An ultra-rich businessman gave his wife $10.8million and several properties in their divorce... she claims a shocking discovery entitles her to $450million
- Ultra-rich man and ex-wife locked in divorce battle
- She claimed he hid part of his fortune overseas
- READ MORE: My husband demanded a divorce just SIX MONTHS after our wedding
A bitter divorce between an ultra-rich Australian businessman and his ex-wife has been dragged out by accusations he hid part of his fortune overseas.
The former wife has so far received $10.8million and properties worth tens of millions of dollars, but is seeking to increase her portion to $450million.
She launched legal action against her ex-husband in the Family Court of Australia, meaning neither of them can be identified due to privacy laws.
The woman has also alleged her former partner abused her and forced her to sign a financial agreement under duress while he knew she was abusing alcohol.
He has denied both claims.
Justice Michael Baumann ruled the former wife's claims were 'unjustified' and rejected her application to rescind the ex-couple's previous financial agreement.
He determined she was 'unjustified' in seeking her ex's accounts be frozen and her share of their wealth drastically increased, the Daily Telegraph reported.
Justice Baumann found the businessman had moved a portion of his wealth overseas as part of his normal dealings and determined restricting those transfers would impact shareholders.
An Australian businessman was accused of abuse and hiding his fortune overseas during his ex-wife's application for a $450million divorce settlement
The former wife's application was also bogged by the former financial agreement she signed allegedly under duress, she claimed.
That agreement awarded her $10.8million, properties in Australia worth $10million and access to the $9.6million in her bank accounts.
The former husband was also set to transfer another property to her name and make a 'balancing payment' if it was valued at less than $15million.
On top of that, the woman was receiving $30,000 a month to cover her and their children's expenses and would be paid $1million over four years for 'spousal maintenance'.
Her former husband claimed he'd sold assets in order to fund the agreement.
Justice Baumann would have needed to reverse that agreement if he approved the wife's application to pursue a settlement of up to $450million.
Her ex-husband lawyers claimed the move would cost more than the total worth of his assets in Australia, estimated to be worth $174million.
In rejecting the application, Justice Baumann determined the money moved overseas was a routine part of the ex-husband's international business.
'The wife has not established at this stage that the husband has either an intention or a scheme to reduce the pool of interests in Australia,' he said.
'The wife has not pointed to any evidence of funds leaving Australia.'
Also aired during the injunction application was allegations the woman was abused by the businessman.
She claimed he had 'exercised financial control' and 'isolated' her from 'family and friends' during their marriage.
Additionally, he allegedly 'exerted coercive control' and forced her to sign their former divorce agreement made under 'duress' via 'false marriage representations'.
The woman claimed he did this while aware she was suffering from 'alcohol addiction'.
The husband denied the allegations.
While the former wife's application was dismissed, the ruling does not prevent her from launching further action against her ex-husband.
