09 October 2013
Family Law Solicitor on the dangers of not disclosing assets in a Divorce
So what’s a spouse to do when she realises that her husband has failed to disclose an asset in a Divorce settlement? A consent order has been agreed and you discover that your spouse hasn’t disclosed a shareholding. The leading case on this area is Kingdon v Kingdon (2010).
The wife lodged an appeal when she discovered her husband had sold shares with a profit of £1,268,000. The Judge ordered the Husband to pay an additional lump sum of £481,000. This sum was the subject of an appeal lodged by the Husband.
The court of appeal held that although in some cases of non-disclosure the court would require a rehearing; in this case the court found it appropriate to make an additional award as opposed to reopening the whole case, therefore saving Court time and costs.
There are two circumstances where this approach is not suitable
a) Where the non-disclosure is based on needs and/or
b) Where the non-disclosure completely vitiates the original award
The court was satisfied the Husband could make the extra payment and the Husbands appeal was dismissed.
By Family Law Solicitor Lorraine Harvey.
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