A recent Supreme Court ruling shows zero tolerance to fraudulent disclosure.
A recent divorce ruling by the Supreme Court has allowed appeals from Mrs Alison Sharland and Mrs Varsha Gohil, who felt that their husbands had failed to disclose the true value of their assets during their divorce settlement.
Sharland v Sharland
Mrs Sharland’s appeal considered the issue and impact of fraudulent non-disclosure upon her financial settlement. She argued that the Consent Order which had been drafted in line with an agreement reached between the parties should not be sealed by the Court, as the true value of the business of which her husband has a substantial shareholding, was much greater than the original value disclosed. Lady Hale ruled that the Consent Order will not be sealed and Mrs Sharland’s application for financial relief will return to the Family Division of the High Court for further directions.
Landmark Ruling - No Lies...
This ruling is far reaching as it highlights the importance of the parties’ duty to provide full and frank financial disclosure of all relevant information to one another and the Court. This duty is ongoing and information must be updated if either party’s circumstances change throughout the course of the Proceedings.
Nobody can read a closed book...
At Awdry Bailey & Douglas we want to achieve the best possible outcome for clients once full, frank, open and honest disclosure has been provided. In the absence of proper financial disclosure it is difficult to provide meaningful advice as to what could constitute a fair and reasonable settlement as nobody can read a closed book.
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If you are considering divorce or are in the midst of Divorce Proceedings, it is in your best interests to seek legal advice so that you can make an informed decision about your future. Our experts are here to help you.
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