The parties attended a family law case conference.
The respondent husband revealed for the first time at the conference that he and his partners had sold their business the previous day, despite having negotiated the sale for five months.
The applicant wife sought leave to retain her own Chartered Business Valuator to prepare a comprehensive valuation of the respondent's business interest, which the respondent opposed on the basis that they had previously jointly retained a valuator who provided a calculation valuation.
The court granted the applicant leave to retain her own expert, finding that the respondent failed to comply with his financial disclosure obligations and that the previous calculation valuation provided little assurance of accuracy.
The court also ordered the respondent to pay the costs of the conference due to his late disclosure, with the amount to be determined.