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Dissatisfied with Settlement
ARE YOU UNSURE WHETHER OR NOT YOU RECEIVED A FAIR AND JUST SUM FOLLOWING YOUR DIVORCE?
A LANDMARK DECISION ALLOWS WIVES TO RE-OPEN THEIR DIVORCE SETTLEMENTS
Earlier this month, the Supreme Court, the most senior court in England and Wales, released its decisions on two different cases that had been heard at the same time. In each case, an ex-wife was seeking to have her divorce settlements, reached 3 and 11 years ago respectively, reassessed. In both cases the ground alleged was dishonesty on the part of the former husband, as both had been found to have lied about their true worth during financial proceedings.
The court took the view that in both cases the judge would have made a different order than the one he gave had he been aware of any dishonesty by the husband. The court ruled that the case should therefore return to the court for further directions.
The above decisions have changed the way dishonesty will be considered by the family courts in future. Not only that, this judgment constitutes a clear sign that if a party to divorce proceedings has been dishonest, the other party can now go back to court to have the whole settlement considered again. This is of course welcome news for people who have fallen foul of the wealthier party in a divorce when that wealthier person has hidden their assets. In many smaller money cases, access to concealed assets could make a huge difference.
Both wives in the above cases can now seek larger pay-outs from their ex-husbands because they had misled them and the courts as to the value of their assets. Of course, whether or not they do get a higher settlement remains to be seen. However, for most people being embroiled in lengthy litigation for years on end is not an attractive prospect. For that reason this ruling is seen by many family law specialists as a huge deterrent for anybody who may wish to be less than totally honest about their finances in family proceedings.
If you think your former spouse may have lied within financial proceedings or you are concerned about your settlement being brought back to court, do get in touch with Jeet Panesar of Bell Lax for a no obligation consultation.
Call Jeet Panesar today, to discuss any concerns you may have over a financial settlement following your divorce or separation.