Joinder of trustees and treatment of trust assets in English matrimonial proceedings: DR v GR and others
The judgment of Mostyn J concerned divorce proceedings in the Family Division of the English High Court and an application for the variation of a settlement under s24(1)(c) of the Matrimonial Causes Act 1973 (the Act). The settlement in question was a Jersey discretionary trust (the trust) of which a Jersey trust company was trustee.
The judgment was handed down prior to the Supreme Court ruling in Prest v Petrodel Resources Ltd & Ors (Prest), which was confined to the consideration of s24(1)(a) of the Act as to whether the court had power to lift the corporate veil of a company and dispose of assets within the company.
However, the Supreme Court in Prest declined to hear argument on the scope of s24(1)(c) of the Act where matrimonial assets are held by companies. In this case, there were three main areas of discussion: namely the broad definition of settlement, the joinder of trustees, and the disposition of the assets…
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
Recent English case law has served to emphasise the requisite levels of intention needed on the part of the transferor for the creation of a Quistclose trust or any other sort of analogous resulting trust.
Jersey property unit trusts are frequently used to acquire and hold interests in UK commercial real estate due to the ease with which they can be established and the fiscal advantages they can potentially bring.