Financial Remedy Order and “Add Back”
When separating parties are resolving their financial position during divorce, a relevant factor which the Court can take into account when determining a fair outcome for financial remedy is “gross and obvious conduct”.
An example of such conduct is “asset dissipation”, an allegation made against one of the parties that they have taken deliberate action to reduce the matrimonial pot, either by squandering money or assets, or other steps to conceal them. It is understandable that one party may wish to scrutinise how the other party has spent, or continues to spend, their money, if that spending is perceived to be excessive, or when a party is alleging lack of financial disclosure against the other.
“Add back” is an argument often used in financial remedy cases, when one party seeks re-attribution to reinstate those assets that the other party has allegedly taken or concealed.
Senior Associate Solicitor, Alistair Dobson, comments:
“It is important that when a party is intending to rely on the “Add Back” provisions, that legal advice is taken, particularly to assess whether this claim is justified and likely to succeed."
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