Read the full judgment text of FCMC 2164/2009 on BabelCite. This Family Court judgment was delivered on 28 December 2021 before Her Honour Judge Grace Chan.
Matrimonial Causes – Ancillary Relief – Non-disclosure – Consent Order set aside – Matrimonial Asset – Post-separation accrual – Loss of chance to invest – Long marriage – Sharing principle – Compensation for delay. The court held that the sum received by the husband from the sale of the family business (EEL) to Avnet was a matrimonial asset to be shared equally, despite being received after decree absolute, due to the long marriage and joint efforts. The husband's material non-disclosure of the sale negotiations was intentional. The wife was awarded half of the sum ($67,500,000) plus compensation for loss of chance to invest ($12,000,000) totaling $79,500,000.
Legal issues: Nature of the Sum · Compensation for loss of chance · Financial Resources
Outcome: Husband ordered to pay lump sum of $79,500,000 to wife.
Cites 2 cases