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 after he learned that his then-wife had filed for divorce on the grounds of infidelity, the ex-husband withdrew his bank account and transferred his $3 million-plus shares to relatives and friends.
Charlene Nah of PKWA Law argued that the ex-husband’s acts amounted to a dissipation of the matrimonial assets and that the $3 million added back into the matrimonial pool.
The assets included a $2.7 million stake in a company that he had transferred to his parents and a friend. There was also $1m in bank accounts and an insurance policy.
PKWA was able to successfully prove that the ex-husband has intentionally dissipated assets of c.$3m and that the court should step in to restore justice.
The client PKWA represented was in the marriage for 21 years. This marriage ended when she filed for divorce back in April 2018 after she had found evidence that her husband had been cheating on her.
For additional information on this case you may read here: https://www.singaporelawwatch.sg/Headlines/Man-went-all-out-to-hide-over-3m-from-ex-wife