Event and Time
Event Description
In a family law proceeding, the applicant sought appointments of expert valuers for the respondent's business interests amounting to an estimated value of $70 million. This interlocutory application was prompted by issues surrounding asset division after a short-term de facto relationship that lasted from 2016 to 2021, with substantial disputes regarding contributions made by each party.
Application and Claims
- The applicant requested:
- Appointment of a single expert valuer for the respondent’s business interests. - Disclosure of documents relating to the business and real estate values. - Spousal maintenance and litigation funding of $375,000.
- The respondent contested:
- The need for a valuation, claiming the relationship was of short duration and questioning the proportionality of the cost associated with the appointment of a valuer.
Judicial Decisions
- The respondent was ordered to file an affidavit listing documents and accounts used to estimate the business interests and an order was made for both parties to make genuine settlement offers within specified timeframes.
- The costs related to the application were reserved for trial.
Dispute Points and Legal Basis
Dispute Points
1. Nature and Duration of Relationship: - Applicant: Claimed cohabitation began in 2016; sought to protect her financial contributions during the relationship. - Respondent: Asserted the relationship began in 2019 and contended no direct financial contributions were made by the applicant.
2. Valuation of Business Interests: - Applicant's Claim: A single expert valuer was necessary to determine fair value due to concerns about the respondent’s representation of his assets. - Respondent's Counterargument: Argued the proposed valuation lacks proportionality given the short duration of the relationship and suggested the applicant had previously agreed to forgo formal valuations.