Posted by Simon Bassett, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Wife seeks freezing injunction against ex-husband
The former wife of a wealthy businessman is pursuing legal proceedings in an attempt to prevent him from spending their multi-million pound fortune.
Late last year, the woman had applied to the High Court for a temporary asset freezing injunction which was designed to prevent her former spouse from selling off the student housing businesses which he has established across the Midlands region.
She has now returned to the courts in an attempt to make the order permanent.
The Court heard that the couple had previously enjoyed a luxurious lifestyle and owned a £2million home in the Nottinghamshire area.
When their relationship eventually broke down, the pair signed a divorce agreement which said that their assets would be divided equally.
The ex-wife fears that her former partner could take cash out of his companies in a “completely uncontrolled and untransparent” manner and fritter it away on luxuries.
This would mean that she would get a reduced sum at the point when she receives her divorce settlement.
The ex-husband has strenuously denied these claims, arguing that the companies were valued three years ago and are now worth significantly less than they were then. He maintains that he is only trying to keep his businesses running, rather than engaging in an attempt to deprive his ex-wife.
The case continues.
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