Millionaire Adelaide businessman to pay ex-wife $9.7m after bitter Family Court dispute

A MILLIONAIRE Adelaide businessmen must pay his former wife almost $10 million in a divorce payout after a bitter years-long property and custody battle.

The former couple, who cannot be identified for legal reasons, have been embroiled in a lengthy and acrimonious multimillion-dollar Family Court dispute.

A MILLIONAIRE Adelaide businessman must pay his former wife almost $10 million in a divorce payout after a bitter years-long property and custody battle.

The former couple, who cannot be identified for legal reasons, have been embroiled in a lengthy and acrimonious multimillion-dollar Family Court dispute.

The pair, whom the court heard had a “volatile” relationship, fought over his empire, luxury properties as well as custody of their children.

A Family Court judge awarded the mother $9.69 million, or 23 per cent of her former husband’s assets, after an eight-day trial last year that laid bare their lavish lifestyle, his complex business dealings and their marriage breakdown.

The wife sought more than a third of what she estimated was his $77.1 million fortune. He argued she only deserved 12.5 per cent of his assets and superannuation, which he said was worth $49.87 million.

The court later ruled the husband, a successful businessman, was worth $47.28 million.

The millionaire will continue to voluntarily pay $275 a week per child, their school fees and related expenses, private health insurance and medical costs.

The wife, who had been receiving $8000 monthly spousal maintenance plus various expenses, can keep the large family home.

The judge said “attention was focused” during the trial on the wife’s spending amid her husband’s claims that some of her “asserted expenses are excessive”.

The judge said “even a cursory examination” of her finances would tend to “demonstrate that there is weight to that submission”.

The judge said, for example, the wife claimed she needed $2097 a week for holidays with her children.

“During the relationship, the parties enjoyed a luxurious lifestyle, which included expensive overseas travel, clothing, motor vehicles and homes,” the judge found.

“In my view, it is reasonable to take into account the fact that the children will soon live with each parent in an equal time arrangement.

“I consider that it would be contrary to their best interests if there was a significant disparity in the lifestyle available to them in the homes of their mother and father.”

The judge added: “They are accustomed to a luxurious lifestyle, which was created for them jointly by the parties.”

The judge ruled they were “inclined to the view that the wife primarily organised and supervised the running of (their) household while the husband concentrated on his business ventures.”

Under federal law, neither party can be named nor have any personal background published that could identify them.

Their identities are also protected by a court-imposed pseudonym approved by Chief Justice John Pascoe.

The husband’s legal bill is $1.84 million while his wife has paid almost $1.4 million to her lawyers.

In their 45-page judgment, the judge awarded shared custody because of the benefit to their children.

The court also published a detailed breakdown of their care arrangements such as during school holidays and special occasions.

The judge ruled which medical specialists the children could visit and when they could contact their parent who was not looking after them.

They further found “no need to protect the children from abuse, neglect or family violence”.

Neither party commented this week.

Originally published as Millionaire Adelaide businessman to pay ex-wife $9.7m after bitter Family Court dispute