This matter was related to property settlement in a case of marriage breakdown, which was heavily contingent upon:
- Breach of disclosure obligations by the husband
- Foreign business investments and their treatment, including a UK company
- Family violence and its effect on the contributions of the wife
- Managing a child requiring special care and its relevance to contributions and adaptability
- Application of the Family Law Amendment Act 2024 (Cth)
Background
- The parties involved in the divorce were married and had a child with special needs. During their relationship, the husband managed various corporations, including overseas corporations. The wife accused the husband of not disclosing the value and structure of a company in the UK among his business interests.
- The case was also supported by family violence to the effect that this reduced her efforts in the marriage and family because she was the major caretaker of the child.
Findings by Judge Street held that:
- The husband failed in his disclosure obligations, particularly regarding the value and character of interests in foreign companies.
- The wife’s non-financial and parenting contributions were substantial, and were made more onerous by the husband’s conduct, including family violence.
- The care of a child with special needs was a significant factor when assessing contributions and future needs.
- An adjustment in the wife’s favour was warranted under s 79 of the Family Law Act 1975 (Cth), taking into account contributions, disclosure failures, and future considerations.
Orders
The court ordered several things, some of which include the following:
- Final property orders made by the Court under S.81 of the Family Law Act, inter alia:
- Transfer of foreign property to the Wife
- Transfer of the wife’s 50% shareholding in an Australian company to the husband
This ruling confirms the following:
- Adherence to regulations on disclosures is strictly important, especially when it comes to complex or foreign assets
- Family violence may significantly impact an evaluation of contributions