Ex-wife seeks extra millions following stock market listing

finances and divorce

The former wife of a sucessful Australian businessman has returned to court seeking a substantially higher financial settlement.

The wealthy couple in question who had been married for 35 years when they decided to end their relationship. During the subsequent divorce proceedings at the family court in Brisbane, Queensland, the wife received a financial settlement of AU $15 million (£11,367,000).

Subsequently the husband’s firm was listed on the stock market. The listing was a success and as a result of his shareholdings he quickly became even wealthier.

His former wife then launched legal proceedings, the Sydney Morning Herald reports, applying to have her settlement reconsidered, alleging that he had failed to “disclose relevant information relating to the public listing of a company in which the first respondent held a substantial interest and which resulted in the first respondent reaping a substantial financial reward in the vicinity of $93 million.”

Unsurprisingly, the one-time husband denies these claims, insisting that “any information that was not disclosed was not relevant to the case”.

Central to the dispute are two dates, the paper suggests. The first was the day when the husband is reported to have first made enquiries into listing the company on the stock market (16 April 2015) and the second was the day he and his business colleagues made a firm decision to go ahead and do so (1 May 2015).

The couple’s financial settlement was finalised on 27 April that year.

Neither party in the case has been identified.

Photo of Brisbane by Acjacjacj via Wikipedia under a Creative Commons licence

Stowe Family Law Web Team

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1 comment

Bernie - April 5, 2017 at 9:59pm

so if an ex-spouse has a business valuation and isa already engaged in an activity to dramatically change the value I could ask for a revaluation?

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