Husband ‘spends £6m to avoid divorce pay-out’

Divorce|January 27th 2016

A wife has accused her wealthy ex-husband of spending £6 million to avoid a big divorce pay-out.

The 55 year-old separated from her husband in 2008 after 24 years of marriage. The following year, the couple signed a consent order which divided their assets. Part of the order was for the husband to pay her £1.5 million from the sale of various shares which were thought to be worth around £6 million.

However, the former commercial lawyer later claimed that he had only been able to get £300 for the shares, and offered his ex-wife a £75 from the sale. In response, his wife has called for him to be jailed for contempt of court, claiming he had spent the entire £6 million in nine months to avoid paying her.

The wife’s barrister said that an examination of the husband’s bank statements revealed he did in fact receive the full £6 million sum back in March 2013. He then “deliberately misled his wife by telling her he had not received the money”, the QC continued.

When he was ordered to provide his bank statements to the court, it was “clear that [the husband] had doctored documents with tipp-ex … in order to conceal the truth”, the barrister told the High Court. He added that the former husband had “disposed of the entire sum” from the sale of the shares before his ex-wife could apply for an injunction to stop him spending it.

The High Court hearing was adjourned when the husband, who was acting as a litigant in person, said he wished to apply for legal aid before the case went any further.

Photo by FreddieBrown via Flickr

Author: Stowe Family Law

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