PKWA Law successfully acts for ex-wife in case where ex-husband “went all out to hide over $3 million” from her
This case was reported in the Straits Times on 23 October 2022.
PKWA Law has successfully acted for the ex-wife in a divorce in which the ex-husband was found to have ‘hidden’ over $3 million of matrimonial assets from her. The High Court ordered the money to be put back into the marriage pool for splitting because the timing of the transfer was “questionable.”
Days before and after he learnt that his then-wife was filing for divorce, the ex-husband closed his bank account and transferred his $2.685 million-plus shares to relatives and a friend.
PKWA Law had argued that the ex-husband’s acts amounted to a dissipation of the matrimonial assets and that the value of over $3 million should be put back into the matrimonial pool for division.
The assets included stakes in 2 companies totalling over $2.685 million that the ex-husband had transferred to his elderly parents and a friend, over $1 million in bank account monies and an insurance policy.
PKWA Law successfully proved that the ex-husband had deliberately dissipated assets of over $3 million and that the Court should step in to restore justice to the case.
Supreme Court Justice Choo Han Teck said: “I am of the view that the Husband was attempting a ‘scorched earth’ campaign leaving little or nothing in the matrimonial pool for the Wife to salvage.”
Our client was in a 21-year marriage. The marriage ended when she filed for divorce on April 20, 2018 after she suspected that her husband had been cheating on her.
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