Hidden Assetts

In the case of KG v LG 2015, the Wife applied for permission to appeal the Consent Order made in 2010 to be set aside on the grounds of non-disclosure.

In this case, the parties exchanged financial disclosure and subsequently reached an agreement in respect of the division of the assets.

Therefore, a Consent Order was drafted and approved in 2010.

However, the Wife subsequently applied for permission to appeal the Consent Order out of time.

Therefore, the Court had to consider if any deficiency in the Husband’s disclosure was material to the provision made in favour of the Wife, and if there was unreasonable delay by the wife in appealing the Order.

After considering matters, the Court found that the disclosure given by the Husband was defective in respect of two trusts, of which the Husband was a beneficiary, worth £4.2 million in cash, as well as shares in a family company of indeterminate value.

The Court held that this defect in the husband’s disclosure was material to the outcome of the case.

It stated that the Wife did not delay in bringing her application to such an extent that her appeal would be dismissed.

Therefore the Court allowed the Wife permission to appeal the Consent Order.

This case highlights the important of providing a full and frank disclosure.

It also shows that any party wishing to appeal a financial order on the basis of non-disclosure, must demonstrate that the non-disclosure was material and not delay in bringing the application.

If you need assistance in respect of your matrimonial affairs, whether this is in respect of issues concerning a divorce and the related financial aspects, children, injunctions or cohabitation disputes, please contact our offices on 01323 727321 to arrange an appointment.

Please note that the family department offer a free initial 30 minute interview to provide general advice and guidance in relation to your matter.

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Eastbourne, Hailsham, Polegate, Meads

Guy Brown
Guy Brown
Carolyn Richards
Carolyn Richards
Greg Saunders
Greg Saunders
Tina Ripley
Tina Ripley