By Kaya 959 Reporter
The Johannesburg High Court has ordered a husband to pay more than R2million to his estranged wife and a further R88 000 per month as maintenance.
The court said when the divorce is finalised, the maintenance amount, for the woman and the couple’s two children, could be increased or decreased.
Known only as ‘JC’, the man has to pay the R2m by October 1. The R88 000 excludes school fees and other expenses.
Pretoria News reported that once the divorce is concluded, the amount will be recalculated to determine what the wife and children are entitled to.
Husband’s net worth above R40m
According to Acting Judge SDJ Wilson, applications under Rule 43 seek to arrange the party’s financial affairs equally for a limited time before a divorce decree is issued.
The judge ruled that the man was modest about his earnings and that in some cases applications overstate their needs while respondents downplay theirs. The man is believed to have a substantial income including investments, salary and bonuses.
The court heard how the man first claimed to earn under R100 000 per month however his true net income, according to his financial disclosures, came in at just under R7m in the last financial year.
JC’s financial disclosures estimated his net worth at just above R40m while R4m is a cash component.
The wife is a qualified teacher who gave up her life to look after the couple’s two children. The children still live with her and during the duration of their marriage, the woman never worked or furthered her education.
The wife is asking for R46 123 69 for herself and R21 289.31 for each child, per month. She is also asking for JC to continue to pay for the children’s education and medical fees.
The woman wants JC to pay rent for a new house that she and the children plan to move into and this is set to cost at least R20 000.
The judge ruled that in the context of the standard of living the woman had become accustomed to, her requirements are not unreasonable.