Considering community property regimes when transferring property into trust
In the English case of Slutsker v Haron Investments Ltd  EWCA Civ 430, the Court of Appeal considered the way in which the matrimonial property regime in Russia would be recognised in respect of English property held in a Cayman law trust.
Mr and Mrs Slutsker were two Russian individuals who had been married in Moscow. Mrs Slutsker wanted their son to go to school in England and as such looked into buying a house in which she and her son could live. The intention was for the house to be held in a trust for the ultimate benefit of the son and any other children of the marriage. A suitable house was found and transferred into the name of a nominee, who held on bare trust initially for Mrs Slutsker and subsequently for the trustee of a Cayman law trust, of which Mr and Mrs Slutsker, her present and future children, Mrs Slutsker’s mother and father, Mr Slutsker’s mother and father and a charity were beneficiaries.
The purchase price for the property had been paid into the solicitor’s client account from a bank account belonging to Mrs Slutsker but constituted matrimonial property under Russian law (meaning it belonged to Mr and Mrs Slutsker in equal shares)…
If you are registered and logged in to the site, click on the link below to read the rest of the Ogier briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ogier
News from The Lawyer
Briefings from Ogier
On 24 November 2014 Guernsey’s Legislation Select Committee passed the Companies (Guernsey) Law, 2008 (Amendment) Ordinance, 2014 with immediateeffect.
This article summarises the main changes under the new law (particularly advantages for lenders) and the transitional provisions which apply to old law security.