Successful application by H to set aside a consent order on the basis of the wife’s material non-disclosure.
Facts
- As part of the settlement, H transferred to W his 4.6% shareholding in the wife’s company, B Ltd.
- Six weeks after the consent order had been agreed, an article appeared in the Telegraph referring to a recent investment by a large asset management company in B Ltd, believed to be in the “tens of millions”.
Held
- Roberts J found that the information provided by W had not been full and frank, she had valued the company at just £500,000 in her Form E.
- The non-disclosure was material. H had been deprived of the opportunity of deciding whether to agree to the proposed settlement from a position of full information.
- The consent order was therefore set aside.
- However, Roberts J declined the husband’s invitation to substitute a different order for that made by consent. The matter was listed for directions with the intention that the parties be given time to reflect on whether any agreement could be reached.
