High Court Judge Sir Paul Coleridge has ordered for a divorce settlement to be “ripped up,” as details emerged of a business tycoon being untruthful in his financial disclosure, the Daily Telegraph reports.
The ex-husband, who was referred to as the “master of the half-truth,” lied about his wealth in a private £1.8m divorce settlement.
The wife launched a challenge, as she later found out about further assets, which hadn’t been put forward during the private settlement discussions.
It was also unveiled that the ex-wife had agreed to the settlement without obtaining any legal advice, as she wanted to move on quickly from the relationship.
The couple, who could not be named, divorced in 2009.
Judge Sir Paul Coleridge was reported saying that the man had been “deliberately false” in the picture he presented to his wife. The judge also called for the settlement to be renegotiated to see whether his wife should be paid a “further capital payment.”
The documents found by the wife included evidence that the businessman had shares worth up to £740,000 in one company which had a £50 million turnover. The court heard he had told his wife he was an employee and the company was not trading and therefore had a ‘nil value.’ It also emerged a further £800,000 investment had not been declared.
Judge Sir Paul Coleridge also highlighted the importance of truthful financial disclosure at a time when the availability of legal advice is becoming scarcer and parties often have to litigate without proper legal advice.