financial provision – Page 21

Prest v Prest and others – WLR Daily

Posted June 19th, 2013 in assets recovery, company law, corporate veil, divorce, family courts, financial provision, law reports, legal personality, matrimonial home by sally

Prest v Prest and others [2013] UKSC 34; [2013] WLR (D) 237

“If a person was under an existing legal obligation or liability, or subject to an existing legal restriction, which he deliberately evaded or the enforcement he deliberately frustrated by interposing a company under his control, the court could ‘pierce the corporate veil’ but only for the purpose of depriving the company or its controller of the advantage which they would otherwise have obtained by the company’s separate legal personality.”

WLR Daily, 12th June 2013

Source: www.iclr.co.uk

Prest v Petrodel Resources Limited 2013 UKSC 34 a victory for common sense – article by Elizabeth Darlington – Zenith Chambers

Posted June 18th, 2013 in company law, divorce, financial provision, matrimonial home, news, Supreme Court by sally

“In summary, the Supreme Court (comprising Lords Neuberger, Walker, Mance, Clarke, Wilson, Sumption and Lady Hale) has unanimously upheld the wife’s appeal and found that the Respondent group of companies held the assets on trust for the Husband. The assets therefore constitute property to which the husband is ‘entitled, either in possession or reversion’ for the purposes of section 24(1)(a) MCA.”

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Zenith Chambers, 12th June 2013

Source: www.zenithchambers.co.uk

The Supreme Court grasps the nettle in Prest v Petrodel Resources Ltd – 11 Stone Buildings

Posted June 18th, 2013 in company law, corporate veil, divorce, financial provision, matrimonial home, news, Supreme Court by sally

“On 12th June 2013, the Supreme Court delivered judgment in the eagerly anticipated appeal in Prest v Petrodel Resources Limited [2013] UKSC 34. For the second time this year, the Supreme Court has had to grapple with the circumstances in which it is appropriate to pierce the corporate veil, the previous decision being that of VTB Capital plc v Nutritek International Corp [2013] 2 WLR 398 (a case in which a number of 11 SB members were involved). Unlike in VTB Capital, however, this time the Supreme Court grasped the nettle and gave some practical guidance as to the reach and limitations of the doctrine.”

Full story (PDF)

11 Stone Buildings, June 2013

Source: www.11sb.com

Stripping Away the Veil of Deceit: Prest v Petrodel – Family Law Week

Posted June 14th, 2013 in company law, divorce, financial provision, matrimonial home, news by sally

“John Wilson QC of 1 Hare Court analyses the Supreme Court’s judgment in the landmark case of Prest v Petrodel and considers its implications for family lawyers.”

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Family Law Week, 14th June 2013

Source: www.familylawweek.com

Petrodel Resources Limited and others (Respondents) v Prest (Appellant) – Supreme Court

Posted June 13th, 2013 in company law, divorce, financial provision, law reports, Supreme Court by sally

Petrodel Resources Limited and others (Respondents) v Prest (Appellant) [2013] UKSC 34 | UKSC 2013/0004 (YouTube)

Supreme Court, 12th June 2013

Source: www.youtube.com/user/UKSupremeCourt

Prest v Prest: supreme court prepares to rule on landmark divorce wrangle – The Guardian

Posted June 10th, 2013 in appeals, company law, divorce, financial provision, matrimonial home, news, Supreme Court by sally

“Does a one-man company metamorphose into one man simply because the person with a wish to abstract its assets is his wife?”

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The Guardian, 10th June 2013

Source: www.guardian.co.uk

Scuppering unscrupulous spouses – New Law Journal

Posted June 10th, 2013 in divorce, equity, family courts, financial provision, news, setting aside by sally

“What are the implications of a court setting aside a disposal made by a divorcing spouse to a third party? Anna Heenan & Ed Heaton report.”

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New Law Journal, 7th June 2013

Source: www.newlawjournal.co.uk

A fair split, or a ‘charter for cheats’? Supreme Court to rule in landmark divorce case – The Independent

Posted June 10th, 2013 in assets recovery, company law, divorce, family courts, financial provision, matrimonial home, news by sally

“Millionaire businessmen will be able to ‘stick two fingers up’ at judges if the highest court in the land rules against a former wife in a high-profile divorce case this week, her lawyers said yesterday.”

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The Independent, 9th June 2013

Source: www.independent.co.uk

Maintenance Pending Suit Revisited – Family Law Week

Posted May 28th, 2013 in family courts, financial provision, news by sally

“Alexander Chandler of 1 King’s Bench Walk, Temple, London revisits and updates an article originally published in February 2010 in light of changes brought about by the Family Procedure Rules 2010.”

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Family Law Week, 24th May 2013

Source: www.familylawweek.co.uk

Committal Applications in financial remedy proceedings: when, how and why to make one – Zenith Chambers

Posted May 21st, 2013 in civil procedure rules, committals, contempt of court, debts, detention, financial provision, news by sally

“An order made in family proceedings for the payment of money can be enforced by judgement summons, and, if the statutory criteria are satisfied, an order made committing the judgement debtor to prison for up to 6 weeks. Given that in all likelihood only half of this time will be served, and that the time served doesn’t actually produce any cash for the creditor, the obvious question for the person seeking to
enforce the order is ‘what is the point?’. In fact, the Court of Appeal said as much in the case of Mubarak in 2000; ‘I doubt whether experienced specialist practitioners will think that it has sufficient value for money to be worth its initiation.'”

Full story (PDF)

Zenith Chambers, 16th May 2013

Source: www.zenithchambers.co.uk

Finance and Divorce May 2013 update – Family Law Week

Posted May 13th, 2013 in benefits, divorce, family courts, financial provision, legal aid, litigants in person, news, presumption of death orders by tracey

“Anna Heenan, solicitor and David Salter, Joint Head of Family Law at Mills & Reeve LLP analyse the April financial remedies and divorce news and cases.”

Full story

Family Law Week, 12th May 2013

Source: www.familylawweek.co.uk

The existential crisis of set aside transactions under section 37 MCA 1973 – Family Law Week

Posted May 10th, 2013 in divorce, financial provision, news, setting aside by sally

“Byron James, barrister, 14 Grays Inn Square considers the questions arising in relation to transactions set aside by s.37 MCA 1973 orders.”

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Family Law Week, 9th May 2013

Source: www.familylawweek.co.uk

Wyatt v Vince – WLR Daily

Posted May 9th, 2013 in abuse of process, appeals, divorce, financial provision, law reports, striking out by tracey

Wyatt v Vince: [2013] EWCA Civ 495; [2013] WLR (D) 166

“The court should not allow either party to a former marriage to be harassed by claims for financial relief which were issued many years after the divorce and had no real prospect of success. Such claims should be struck out under FPR r 4.4(1)(b) as an abuse of process.”

WLR Daily, 8th May 2013

Source: www.iclr.co.uk

Entrepreneur defeats ex-wife’s attempt to increase £10.4m divorce settlement – Daily Telegraph

Posted May 9th, 2013 in divorce, financial provision, news, setting aside by tracey

“A multi millionaire entrepreneur who gave his ex-wife £10.4 million in their
divorce settlement has defeated an attempt by her at the High Court to get a
bigger slice of his fortune.”

Full story

Daily Telegraph, 8th May 2013

Source: www.telegraph.co.uk

Carers to receive legal rights under new laws – Daily Telegraph

Posted May 7th, 2013 in bills, carers, financial provision, news, parliament, pensions, speeches by sally

“Hundreds of thousands of people who care for elderly or disabled relations will be given new rights to state support for the first time, Norman Lamb, the Care and Support Minister, says.”

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Daily Telegraph, 7th May 2013

Source: www.telegraph.co.uk

How to cut the costs of getting divorced – The Guardian

Posted April 8th, 2013 in budgets, costs, custody, divorce, financial provision, internet, legal aid, news by sally

“Legal aid for the 120,000 couples who divorce in a typical year all but disappears in England and Wales this week, except in cases where domestic violence can be proved. While many are predicting a big increase in DIY divorces, costing as little as £37, the changes have also prompted the arrival of a raft of new fixed-fee legal deals that keep lawyers’ bills below £500.”

Full story

The Guardian, 6th April 2013

Source: www.guardian.co.uk

Jailed property man hid his assets in offshore network during divorce – The Guardian

Posted April 4th, 2013 in contempt of court, divorce, financial provision, news by sally

“Ex-wife is suing Scot Young for share of £400m fortune that he claims he lost within three months.”

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The Guardian, 4th April 2013

Source: www.guardian.co.uk

Does VTB v Nutritek foreshadow the Supreme Court’s approach to the Petrodel appeal on piercing the corporate veil? – Family Law week

Posted February 12th, 2013 in appeals, company law, corporate veil, disclosure, financial provision, matrimonial home, news by tracey

“Emily Marshall, family law professional support lawyer at Irwin Mitchell considers the possible implications of the Supreme Court’s decision in a commercial case on the forthcoming appeal in the Petrodel appeal, to be heard in March.”

Full story

Family Law Week, 11th February 2013

Source: www.familylawweek.co.uk

Divorcees to plunder partners’ pensions – Daily Telegraph

Posted February 12th, 2013 in divorce, financial provision, news, pensions by tracey

“Divorcees who separated in the past 12 years could have to hand over more of their pension income to their former spouse. Pension funds are often the main asset of a marriage and are frequently more valuable than the home, but according to a report from Divorce LifeLine in as many as half of the 1.5 million divorce settlements in the UK since December 2000, the divorce pensions may have been undervalued.”

Full story

Daily Telegraph, 12th February 2013

Source: www.telegraph.co.uk