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Husband used sham company transfer to hide property from wife

A husband has failed in his attempt to use a sham company transfer to hide a valuable property from his wife during divorce proceedings.

The case arose after the husband used a company he owned to buy the property worth between £600,000 and £800,000. He then transferred the company to a third party.

During the proceedings, however, the court held that the transfer of the company was a sham because the husband retained the beneficial ownership. He had simply been trying to conceal his interest in the property from his wife so that she would not be able to claim a share.

The court held that the property would make a significant difference to the wife’s financial claims and should be added to the matrimonial pot when considering how much support she should receive for herself and her children.

That decision has now been upheld by the Court of Appeal.

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