"Double-dipping divorce not on
July 18, 2009
By Vanda Carson
Reference source: Wikipedia
BUSINESSMEN who have tried to reopen their divorce settlements to seek a larger slice of the pie because their post-divorce wealth has fallen dramatically in the global recession have had no luck in the courts.Now the shoe is on the other foot and a legal precedent has been set blocking women from claiming a larger portion of their former husband's bigger asset pool.
In a British case this week Kim Walkden failed to claim a larger share of the assets of her former husband, Martin, whose wealth had quadrupled since their divorce.
Because Mr Walkden took his slice of their assets in shares in his timber company, and his wife took cash, he ended up better off. A year after the divorce Mr Walkden cashed in his shares and pocketed about 3 million.
He ended up with 82 per cent of the assets and Mrs Walkden 18 per cent. Mrs Walkden received 225,000 in cash, about a quarter of the estimated value of the company.
Sue Pearson, of Pearson Family Lawyers, a Sydney firm, said Australian courts were also unlikely to allow divorced spouses to reopen an asset settlement.
She said the Walkden decision was in line with the case of a British-based South African financier, Brian Myerson, who has failed to compel his former wife to return the 11 million she received in their split."
Totally incorrect and misleading information.!! Too late boys, there is already a precedent been set in Australia where you can go back for a fairer redistribution after the initial property settlement.
No comments:
Post a Comment