Husband fined for purchasing cryptocurrency

In the recent case of Lescosky & Durante [2020] FamCAFC 179, a Husband was fined $54,000.00 for purchasing cryptocurrency to the value of $180,000.00.

The parties had been engaged in contested property settlement proceedings. The Husband set up two new bank accounts and transferred the sum of $180,000.00 over an 11 day period, which was utilised to purchase the cryptocurrency.

The issue with the purchase of the cryptocurrency by the Husband, was that this breached (“contravened”) a Court Order. The Court Order provided that:

  • the Husband was restrained from transferring or otherwise disposing of any asset exceeding $1,000.00 in value (save in the ordinary course of business); and
  • prior to transferring or otherwise disposing of any asset exceeding $1,000.00 in value, the Husband was to provide seven (7) days written notice of his intention to deal, to the Wife’s solicitors.

The Court proposed that “payment of the fines be made by the Husband, namely from his entitlement in the property settlement proceedings.”

This case serves as a reminder as to the powers available to the Court, where there is a contravention of a Court Order.

If you have any queries in relation to Court Orders, or require assistance with a property settlement, please call us on 07 3278 1888.

Welcome Amy Holland to Hogan Stanton Lawyers

We welcome Amy Holland to our team, as our Associate Lawyer. Amy’s interest in law was sparked during work experience at a local Magistrates Court, which led to a school based traineeship and ongoing employment with the Department of Justice and Attorney-General during her university studies. Since her admission as a legal practitioner in 2014, Amy honed her efficient and client-focused approach, within private practice.

In her spare time, you will find Amy on road trips exploring all that our beautiful country has to offer (particularly enjoying the rest breaks for Devonshire tea or a stop at a little country bakery), walking her dogs or curled up in a sunny spot enjoying a good book.

Amy looks forward to meeting you at our offices. Please call us on 07 3278 1888 to arrange a meeting.

How to prepare for an appointment with us

Making an appointment with a law firm may be daunting!

However, the team at Hogan Stanton Lawyers are here to make you feel comfortable and to answer any initial questions you may have.

We speak in plain English and try to avoid “legal jargon”.

Here are some friendly tips to help you prepare for our appointment:

  1. Allow up to one hour for your appointment unless we advise you otherwise.
  2. Turn your mobile phone on silent to avoid distractions.
  3. If possible, avoid bringing your child or children to the appointment so that you can listen and focus. Although we understand this is not always possible.
  4. Bring in your passport and driver’s license so we can identify you.
  5. Ask us if you are not sure what to bring with you.
  6. Bring in any paperwork or documents that are relevant to your matter.
  7. Bring in a notepad to take notes.

We look forward to meeting you!

Ask us for a free quote!

call us on 07 3278 1888

4 Common Myths About Divorce

You Don’t Need Legal Advice

While you can prepare your own divorce application, we strongly recommend you seek legal advice before doing so. This is especially the case when you have children or hold joint property together. Making the initial decision to get legal advice will ensure your rights are represented.

You Can Get Divorced Whenever You Want

The only grounds for divorce are that the marriage has broken down irretrievably and you must have been separated for at least 12 months and one day. If there are children under 18 then proper arrangements need to have been made for them. In Australia, if you have been married for less than two years you will need to attend counselling and provide the court with a counselling certificate.

Mothers Always Get Custody

When a court determines who will have physical and legal custody, they take the best interests of the children into consideration.

Assets Are Split Equally

The division of assets is more about fairness rather than an equal split. Once the asset pool has been compiled, the process involves measuring the contribution that each party made to the assets. There are a number of factors that are taken into account, and the division must be just and equitable under the Family Law Act.

We are here to help

Please call us on 07 3278 1888 for your no obligation FREE quote and initial advice

Documents You Need To Settle Outstanding Property Matters

After you separate and before negotiations can commence to settle property matters you will need your former spouse or partner to provide you with all relevant information regarding the value of the assets and liabilities, and his or her financial position.

The Family Law Rules provide that parties have a legal obligation to provide the details of all relevant financial information and documentation that is or has been in the possession, or under the control of the party disclosing the document  and is relevant.

Therefore you will need to request copies of the following types of documents:

  1. Three market appraisals  (from three different real estates) in relation to any real property that is owned solely or jointly with any other person;
  2. A market appraisal and full description of all motor vehicle/s or vessels owned;
  3. A market appraisal of any other asset owned;
  4. Taxation returns and assessments for the three (3) most recent financial years;
  5. Superannuation documents for superannuation interests;
  6. In relation to any business, company, corporation, partnership or trust you will need financial statements for each, tax returns and assessments, bank statements or other financial institution statements of account (credit and debit) for the three (3) most recent years; a copy of any trust deed, corporate constitution or partnership agreement;
  7. In relation to liabilities (debts) including but not limited to home loans, vehicle loans, personal loans, credit cards or any other loan, loan account statements for the three (3) most recent years, loan document or contract, loan application form for each debt;
  8. Documents regarding financial contributions (including value of assets) made by you at the commencement of cohabitation, inheritances/ gifts or any compensation payments received during cohabitation or expected to be received in the future, any purchase or disposal of property in the 12 months prior to and since separation, any increase or reduction of liabilities since separation;
  9. A list of all bank accounts (or credit union/ building society accounts), details of account numbers, passbook and bank statements for the three (3) most recent financial years, and current balance of each account, records of any investments (stocks or shares), details of any social security pension or payment details, details/ records of any long service leave accrued, records relating to life assurance or disability insurance;
  10. List any other relevant documentation.
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