Read the full judgment text of FCMC 1100/2010 on BabelCite. This Family Court judgment before Deputy District Judge G. Own.
Matrimonial Causes – Ancillary Relief – Financial Provision – Asset Identification – Gift vs Loan – Pension – Costs – District Court – Matrimonial Proceedings and Property Ordinance – LKW v DD – $680,000 advanced by Husband's parents found to be gift – $1,200,000 proceeds from Kowloon City property found to belong to Husband's father due to Hidden Intention – Stock investments in Husband's account found to be Husband's sole asset – Husband's Pension found to be asset subject to equal division – Matrimonial home to be sold with net proceeds divided equally – Husband ordered to pay Wife $436,000 from other assets and $730,000 from Pension upon receipt – Costs order nisi made for specific portion of Wife's costs to be borne by Husband.
Legal issues: Whether $680,000 was a gift or a loan · Whether Husband's father has beneficial interest in stock investments · Whether $1,200,000 proceeds of sale belong to Husband or Father · Whether Husband's Pension is an asset subject to division · Costs order
Outcome: Ancillary reliefs granted. Matrimonial home sold. Lump sums awarded.
Cites 2 cases