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 Rights violation: Husband loses $1 million after Family Court rejects his 'special skills'

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RR Phantom

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Rights violation: Husband loses $1 million after Family Court rejects his 'special skills' Vide
PostSubject: Rights violation: Husband loses $1 million after Family Court rejects his 'special skills'   Rights violation: Husband loses $1 million after Family Court rejects his 'special skills' Icon_minitimeThu Jan 09, 2014 10:31 pm
He paid $539,500 for the shares, against her wishes.

By the time of their divorce they were worth $1.85 million, taking the total value of their superannuation fund to $3.4 million.

He took a calculated risk with the parties' money, which fortunately proved correct

Because of the husband's "skill in selecting and pursuing the investment", the judge awarded him two thirds of the fund, or $1 million more than the wife.

But the full Family Court of Australia has overturned that decision, finding the trial judge may have given "unacceptable weight" to the husband's "special skills", in a case which could have major ramifications for divorces in the big end of town.
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The controversial "special contribution" doctrine has previously allowed one spouse to lay claim to a significant portion of a couple's assets if they showed exceptional skill or talent in building the fortune.

Read more: http://www.smh.com.au/national/husband-loses-1-million-after-family-court-rejects-his-special-skills-20140109-30k5b.html#ixzz2pxlCtiHf
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Rights violation: Husband loses $1 million after Family Court rejects his 'special skills'

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