The appellant (husband) and respondent (wife) were married out of community of property with the accrual system on 3 April 1992. They have two major children. Divorce proceedings commenced in May 2009 and the marriage was ultimately dissolved on 14 March 2019. The divorce court postponed the proprietary rights issue (accrual claim) to be determined later.
Prior to the divorce being finalized, during July 2018, the appellant founded a trust named the Lovell Children Educational Trust and donated R1,800,000 to it for the children's financial support. In October 2018, the appellant invested R5,114,740.75 in a living annuity with Investec. In December 2018, the appellant made a 'with prejudice' rule 34 tender offering R550,000 in full settlement of the wife's accrual claim, which the respondent rejected.
In May 2021, the appellant sold his immovable property. The respondent became aware in June 2021 and instituted an anti-dissipation application in July 2021 seeking to preserve the net proceeds of the sale pending determination of her accrual claim. The high court granted the relief sought. The appellant's application for leave to appeal was dismissed by the high court but granted by the Supreme Court of Appeal.