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A divorcee who considered that her husband had set up a trust in order to defeat her claims for a financial settlement on divorce has obtained the agreement of the High Court that the documentation relating to the trust and its proceedings should be disclosed.
The decision followed an earlier court ruling in which the woman’s ex-husband was found guilty of contempt of court for failing to comply with orders, made in 2011, to disclose his assets.
The ex-husband claims to have no assets other than interests in two pension funds. In 2005, he purchased a property in the Bahamas using a trust, the sole beneficiary of which is his second wife.
The documents which the Court has demanded should be disclosed are:
The judge who heard the application commented that there was every reason to believe that the ‘family trust is the recipient of assets which were once the defendant’s and may still be his for all practical purposes. In those circumstances, the disclosure sought is reasonably ancillary to that required by the previous orders, which have not been properly complied with. I accordingly find that I have jurisdiction to make the order sought to ensure that the orders previously made are effective, and that it is right to do so.’
The courts will take a very strong exception to people involved in similar proceedings seeking to hide assets or misrepresent their true financial position.
Source: News feed