High Court freezes assets of businessman who still owes ex-wife S$7.56 million in divorce settlement - Singapore News
The Singapore High Court froze a businessman's assets due to concerns he would default on the remaining S$7.56 million of his divorce settlement.Summary
The High Court in Singapore has frozen the assets of a businessman who still owes his ex-wife S$7.56 million from their divorce settlement. The couple, married in India in 2004 and with two children, divorced in Singapore in 2022, with the husband initially agreeing to pay S$312,500 monthly until June 2027, totaling S$20 million. However, he began missing payments in 2024, prompting his ex-wife to seek legal recourse.
The court raised concerns after the husband refinanced a property and transferred S$18.2 million to his company, with an unexplained excess of S$2.2 million. His reported plans to move to Dubai further fueled the wife’s concerns, leading her to apply for a Mareva injunction to prevent him from disposing of assets. The husband claimed he had no relocation plans.
Justice Choo Han Teck granted the injunction, citing the husband’s past behavior and the need to ensure the remaining settlement is paid. The businessman must now deposit the S$7.56 million with his lawyers, who will distribute monthly payments to his ex-wife until the settlement is complete in June 2027.
(Source：The Independent Singapore)