{"id":247443,"date":"2024-12-29T13:58:20","date_gmt":"2024-12-29T13:58:20","guid":{"rendered":"https:\/\/dominiclevent.com\/blog\/?p=247443"},"modified":"2024-12-29T13:58:56","modified_gmt":"2024-12-29T13:58:56","slug":"an-ultra-rich-businessman-gave-his-wife-10-8million-and-several-properties-in-their-divorce-she-claims-a-shocking-discovery-entitles-her-to-450million","status":"publish","type":"post","link":"https:\/\/dominiclevent.com\/blog\/an-ultra-rich-businessman-gave-his-wife-10-8million-and-several-properties-in-their-divorce-she-claims-a-shocking-discovery-entitles-her-to-450million\/","title":{"rendered":"An ultra-rich businessman gave his wife $10.8million and several properties in their divorce… she claims a shocking discovery entitles her to $450million"},"content":{"rendered":"\n
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By ASHLEY NICKEL FOR DAILY MAIL AUSTRALIA<\/a><\/p>\n

Published:<\/span>

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A bitter divorce between an ultra-rich Australian businessman and his ex-wife has been dragged out by accusations he hid part of his fortune overseas.<\/p>\n

The former wife has so far received $10.8million and properties worth\u00a0tens of millions of dollars, but is seeking to increase her portion to $450million.<\/p>\n

She launched legal action against her ex-husband in the\u00a0Family Court of Australia, meaning neither of them can be identified due to privacy laws.<\/p>\n

The woman has also alleged her former partner abused her and forced her to sign a financial agreement under duress while he knew she was abusing alcohol<\/a>.<\/p>\n

He has denied both claims.<\/p>\n

Justice Michael Baumann ruled the former wife’s claims were ‘unjustified’ and rejected her application to rescind the ex-couple’s previous financial agreement.<\/p>\n

He determined she was ‘unjustified’ in seeking her ex’s accounts be frozen and her share of their wealth drastically increased, the Daily Telegraph<\/a>\u00a0reported.<\/p>\n

Justice Baumann found the businessman had moved a portion of his wealth overseas as part of his normal dealings and determined restricting those transfers would impact shareholders.<\/p>\n

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An Australian businessman was accused of abuse and hiding his fortune overseas during his ex-wife’s application for a $450million divorce settlement<\/p>\n<\/div>\n

The former wife’s application was also bogged by the former financial agreement she signed allegedly under duress, she claimed.<\/p>\n

That agreement awarded her $10.8million, properties in Australia worth $10million and access to the $9.6million in her bank accounts.<\/p>\n

The former husband was also set to transfer another property to her name and make a ‘balancing payment’ if it was valued at less than $15million.<\/p>\n

On top of that, the woman was receiving $30,000 a month to cover her and their children’s expenses and would be paid $1million over four years for ‘spousal maintenance’.<\/p>\n

Her former husband claimed he’d sold assets in order to fund the agreement.<\/p>\n

Justice Baumann would have needed to reverse that agreement if he approved the wife’s application to pursue a settlement of up to $450million.<\/p>\n

Her ex-husband lawyers claimed the move would cost more than the total worth of his assets in Australia, estimated to be worth $174million.<\/p>\n

In rejecting the application, Justice Baumann determined the money moved overseas was a routine part of the ex-husband’s international business.<\/p>\n

‘The wife has not established at this stage that the husband has either an intention or a scheme to reduce the pool of interests in Australia,’ he said.<\/span><\/p>\n

‘The wife has not pointed to any evidence of funds leaving Australia.’<\/p>\n

Also aired during the injunction application was allegations the woman was abused by the businessman.<\/p>\n

She claimed he had ‘exercised financial control’ and ‘isolated’ her from ‘family and friends’ during their marriage.<\/p>\n

Additionally, he allegedly\u00a0‘exerted coercive control’ and forced her to sign their former divorce agreement made under ‘duress’ via ‘false marriage representations’.<\/p>\n

The woman claimed he did this while aware she was suffering from ‘alcohol addiction’.<\/p>\n

The husband denied the allegations.<\/p>\n

While the former wife’s application was dismissed, the ruling does not prevent her from launching further action against her ex-husband.<\/p>\n<\/div>\n

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\nAn ultra-rich businessman gave his wife $10.8million and several properties in their divorce… she claims a shocking discovery entitles her to $450million<\/h3>\n<\/div>\n<\/div>\n

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