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Legal Dispute

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Absolutely

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Hi guys,

I am now in a legal dispute over property matters with my ex-partner.

She is taking me to court in the belief that I "accummulated a substantial share portfolio" during the relationship. Unfortunately for her, this will be shown not to be the case.

Does anyone know however, the best way of proving one's share holdings on a particular date?

Cheers
 
Hi Absolutely.

Get hold of a transaction statement from your broker.

I down load one at the end of every year from my broker site.

PS: But having said that, the onus is on her to prove the allegation.

Be careful about giving out too much information that doesn't concern her.

A bit of good tactical advice from a solicitor probably won't go astray.
 
Whiskers, yeah thanks for that.

On the commsec website it only goes back as far as 2004 and I really need to go back to the commencement of the relationship which is 2000.

I've written to Comsec to ask them if they can help with the additional statements.

However even so it doesn't prove much does it ? I mean I may have been using another broker for instance (which I havn't). I just wondered whether there is an authority that keeps a record of the number of shares one holds? Would the CHESS register be able to help me for example?

I've got my lawyer involved and waiting for her to give me advice in this regard too.
 
CHESS is operated by the ASX Settlement and Transfer Corporation (ASTC) for ASX listed shares. The individual companies would have a register of your holdings, but I dont know how long the hold them for.

But as you say if you had a dozen sponsoring brokers one statement proves little. Likewise, if you held overseas shares.

Probably boil down to legal tactics. Just do what you have to do to stay in the clear. You/your lawyer might offer, but let her pay for searches, by independant parties or court ordered of 'relevant' records if that's what it takes to get the problem to go away.
 
Whiskers said:
The individual companies would have a register of your holdings, but I dont know how long the hold them for.
Click to expand...
The registry used by each company should retain a record of your holding for 7 years following the sale...
 
Yes she will be paying for the whole thing.

She's a bit clueless.

Fact is that rather then "accumulating a substantial share portfolio", I was in fact paying off the home loan with any spare funds, of which she got half when we split up. And it's there in black and white on the loan statements and I can't believe she hasn't had a proper look at them before instigating proceedings and making wild accusations.

Gonna cost her a lot. Bit sad really.
 
No offence to any lawyers reading but the only real winners from this exercise will be the legal teams on each side I suspect.

In saying that, is there any way to reduce your expenses whilst maintaining a favourable outcome?

Cheers,

Kenny
 
G'day Kenny,

You are exactly right mate.

I have actually talked about my issue on this forum before some months ago. I had to take my ex to court to ensure I could maintain proper contact with my children. I have all but succeeded in achieving that now. The downside was that my ex threatened if I sought proper time with my children she would take me to court for $$$.

Unfortunately she has started proceedings with erroneous accusations and is blind to the fact that I have done everything right. She's a bit dim so I have tried to explain the situation to her parents and her lawyer. But they are only guided by her and are not interested in what I have to say.

I wish there was another way but I have run out of options.
 
The lawyers won't be suggesting this to you as it could diminish their own financial rewards, but I'd suggest approaching your local Dispute Resolution Service. This is (well at least in Qld) a free service provided by the Justice Department and offers mediation between the two of you.

The process involves both of you sitting down with two mediators. It is a completely controlled process which in 98% of cases with two willing participants produces a satisfactory outcome.

Should be a listing in the phone book for Dispute Resolution Service, or alternatively approach your Court House for more information.

Don't forget the lawyers have no interest in achieving a quick and satisfactory outcome. Much better for them if it's all dragged on for ever.

Good luck.
Hope you can achieve a reasonable outcome without too much bitterness on either side. You once felt enough for each other to form a relationship.
 


As a law student, while I see your point of view, I would like to think that lawyers would prefer to leave their client feeling satisfied at the end of the case. This will certainly not happen if the matter drags on too much...

To the OP, sorry to hear about the situation, but I agree with Julia in that ADR is probably best for a personal situation. ADR is focussed towards achieving a satisfactory outcome for both parties rather than the strict enforcement of your legal rights. You can be sure that your side of the story will be heard in ADR.

-Edwin
 
I agree with Julia in suggesting a mediation approach is probably still the best way. If nothing else, having say a solicitor's letter inviting they come to mediation early in the case will look favourable to your side if it does go to court later. It is always better to be seen as being reasonable and open to resolution.

Good luck,

Kenny
 
We've had 9 hours mediation. The first session (November last year) went for 7 hours (12 noon to 7.00pm) non stop, without a break !

Unfortunately my ex is stubbornly stupid and the mediators were tearing their hair out with her. That stupidity will now be her undoing. It's a very sad situation but I think she needs to learn a lesson a hard way now.

Thanks for all your advice regarding mediation etc.... but frankly, this issue is beyond all that now. We are going to court.

I am just trying to work out the best way of describing to the court my financial position and how to demonstrate that her allegations regarding a substantial share portfolio are erroneous. Any thoughts on that would be most appreciated.
 
How about using the guideline of "Follow the Money."

Make available the relevant accounts and it should be straightforward to show and track the movement of funds in and out of stock positions regardless of which brokers were used.

Cheers,

Kenny
 
Absolutely said:
I am just trying to work out the best way of describing to the court my financial position and how to demonstrate that her allegations regarding a substantial share portfolio are erroneous. Any thoughts on that would be most appreciated.
Click to expand...

Can you get the records you need from past tax returns. I can go back 50yrs with mine if it was necessary. My returns would show assets year by year. Maybe I keep too much junk but it is almost like a diary. I'm trying to write a book at the moment and it is surprising what the old records are reminding me about.
 
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