Measures to prevent hiding or disposal of assets on divorce

8th March 2015 by

 

When a couple decide to get divorced, the financial settlement claim can often bring issues to the forefront of who owns what property and which spouse should benefit from what assets.

A financial settlement on divorce hearing hit the headlines in 2014 when a High Court judge ordered a former husband not to sell off the library which was, at the time, part of the matrimonial home the husband had moved out of, but the wife continued to live in.

The judge said the library at the Cumbrian castle was of “quite considerable value” and the former husband was ordered not to attempt to dispose of it. The divorce dispute details came to light when the written ruling was published following a hearing.

The couple’s case also involved disputed sums pertaining to a sale of shares which had originally been valued at £6.6 million, but later sold, or so the husband claimed, for £330. The original estimate for a lump-sum settlement to be given to the wife following the sale was £1.6 million, but the husband reduced it to £83.

The judge said that the situation required “particular explanation”.

Following a further hearing the couple agreed an undisclosed settlement.

The judge commented, “I am pleased that you have settled the case… and I hope you are able to move forward with your lives now.”

The law requires full and frank disclosure

Healys’ Brighton divorce solicitors can help you if you are making or defending a financial claim on divorce and suspect that your former spouse may be hiding or attempting to dispose of marital assets.

Courts take full and frank disclosure of assets and property very seriously in a financial claim on divorce and if attempts are made to conceal financial information, the court has powers to impose harsh penalties.

If you can provide evidence to the court that your former spouse is attempting to dispose of assets, we can help you apply to the court for a freezing injunction which will halt any further reduction of matrimonial wealth.

The court has powers to freeze certain accounts and assets, but not to the detriment of any business dealings your spouse may be undertaking.

The law pertaining to divorce financial settlements is complex and it is essential you receive expert legal advice from experienced professionals.

Consult divorce solicitors to ensure disposal of assets is stopped

Contact Healys divorce and matrimonial team today to talk about your financial settlement on divorce. Our experienced family lawyers can advise you quickly on the best course of action if you suspect your spouse is concealing assets.

We also have an experienced team of commercial lawyers on hand who have wide-ranging knowledge of company law which can be utilised to protect you if your spouse is using a company or business dealings to dispose of assets.

We have offices in London and Brighton, and our divorce solicitors will be happy to talk to you to discuss your personal circumstances.

For more information on the service we provide, please contact Catherine Taylor on 01273 669 124 or email catherine.taylor@healys.com in Brighton. For London enquiries, please contact Jane Sanders on 020 7822 4107 or email jane.sanders@healys.com