The Siemon Law Firm
Honest Answers.
View Practice Areas

Gift or loan? That is the question in high-asset support matter

Disputes surrounding child support often centrally feature in high-asset divorce matters, and a multijurisdictional and global dispute regarding the amount of support payments is illustrative of the types of questions and concerns often involved.

The case actually involves a couple who, after having spent a considerable amount of time together and being engaged at one point, ultimately decided not to marry. They split just months before their daughter was born in 2007.

The woman subsequently met and began dating another man, just at around the time that she and her former partner -- a Wall Street business titan -- escalated their dispute over child support payments for their child. The woman relocated with the daughter to Hong Kong, where she had grown up as the daughter of the ultra-wealthy ex-chairman of the Hong Kong Shanghai Banking Corporation.

What is at the heart of the couple's current dispute is the amount of child support currently being paid by the father, as ordered by a Hong Kong court. At more than $50,000 per month (including school and tutoring), the amount is reported to be among the highest ever awarded in the colony.

The father says it is based on fraud and conspiracy between the mother of his daughter and her present boyfriend, who is also a wealthy financier. A lawsuit filed recently in New York contends that the boyfriend is gifting the woman with millions of dollars in cash that is being miscategorized as loans in order that she can disguise and deflate her income, thus increasing her support payments.

The father says that he is bringing the case "to prevent an injustice."

Source: New York Times, "Millionaires clash over socialite's child support claims," Peter Lattman, April 25, 2013

No Comments

Leave a comment
Comment Information
Contact our Georgia Family Law Firm by calling 770-888-5120 or by completing this contact form. An attorney will respond within 24 business hours.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

The Siemon Law Firm
347 Dahlonega Street, Building 100
Cumming, GA 30040

Phone: 770-888-5120
Cumming Law Office Map

The Siemon Law Firm
4555 Mansell Road, Suite 300
Alpharetta, GA 30022

Phone: 770-888-5093
Alpharetta Law Office Map

The Siemon Law Firm
3400 Peachtree Rd NE, Suite 555
Atlanta, GA 30326

Phone: 770-888-5078
Atlanta Law Office Map

The Siemon Law Firm
One Parkway Center
1850 Parkway Place
Suite 715
Marietta, GA 30067

Phone: 770-888-5312
Marietta Law Office Map