VPH v VPI [2021] SGHCF 22

Outcome: Appeal allowed in part

Facts

1 The Husband appealed against the District Judge’s (“DJ”) orders concerning the division of matrimonial assets, maintenance payable to the Wife, and costs.

Court’s Decision:

2 The appeal was allowed in relation to the valuation of matrimonial assets (the value of parties’ entitlement upon division was adjusted as a result), but the High Court Judge affirmed the DJ’s other orders on the division of matrimonial assets. The lump sum maintenance of $60,000 payable by the Husband to the Wife was also affirmed on appeal, but to be made in two equal instalments.

3 The formula set out in USA v USB [2019] SGHCF 5 for the calculation of the proportion of the net value of pre-marriage properties to be included in the matrimonial pool, related only to pre-marriage properties which were not the matrimonial home. The matrimonial home is regarded as a matrimonial asset under s 112(10) of the Women’s Charter 1961, and once a property is deemed as the matrimonial home, it will be included in the matrimonial pool regardless of when and how it was acquired: at [26] and [27].

4 The surrender value of insurance policies as at the date of the ancillary matters hearing, or any other date agreed by parties, is typically adopted in the valuing of such assets. There is no basis to exclude the premiums paid to date from the surrender value in the valuation process: at [37].

5 For a party’s direct contributions, instead of adopting his or her financial outlay (the numerical amount which the party paid to purchase the asset) as his or her direct contributions, it would be more principled to determine the ratio in which parties had contributed to the asset and attribute parties’ contributions to the asset based on the net value of the asset: at [71(a)].

The full text of the decision can be found here.

This summary is provided to assist the public to have a better understanding of the Court’s judgment. It is not intended to be a substitute for the reasons of the Court. All numbers in bold font and square brackets refer to the corresponding paragraph numbers in the Court’s judgment.