Court Can Stop Erratic Spending
A wife – who found out her separated husband had been splurging their assets on prostitutes, gambling, drugs and shares – has had to get a court order to stop the spree.
The husband had bipolar disorder, he was even trading in shares from his bed in a hospital psychiatric unit after attempting suicide, the Family Court in Brisbane heard.
While in hospital, the company manager husband surprised the wife by revealing he had spent up to $20,000 on prostitutes and erotic massages and regularly used cocaine, ecstasy and cannabis.
The wife, a professional, had only recently became aware that her partner of 10 years had obtained a line of credit with the company he managed, drawing down $193,000.
She also found out he had spent at least $15,000 in the previous 18 months on gambling, and had at least three sports bet and gambling accounts.
The husband had become heavily involved in share trading, on some days making up to ten or more trades, with some individual trades valued up to $80,000, the wife claimed.
The wife also described her husband’s violent behaviour over the previous 18 months, that caused her to change the locks on their home.
The wife claimed he had punched a hole in the bedroom wall after she refused to spend $50,000 on his birthday party and slapped her hard on her bottom and thighs during sex.
After the husband discharged himself from hospital, against doctor’s advice, the wife fled the home.
The couple had property with a net value of $994,137, but it was mostly in the husband’s name only, the court heard.
The Judge said that without an injunction, the husband would have access to substantial funds and financial resources which could reduce the property available for distribution by $545,722.
The Court ordered injunctions to prevent the husband drawing on three bank accounts, a draw down on a loan facility and from increasing debt on existing loan accounts. The judge said the husband would still have access to other accounts for his day-to-day living expenses.
If you have any concerns about separation and divorce, asset division, or any other aspect of family law, get in touch with us today. Contact Michael Lynch Family Lawyers to boor a fixed-fee initial consultation on: (07) 3221 4300 or email: [email protected]
