Petrodel Resources Ltd & ors v Prest & ors [2012] EWCA Civ 1395 – Law Journals

Trusts: Trust issues

Huw Miles analyses issues of evidence regarding complex trust and corporate entities as highlighted in the decision of CR v MZ ‘It was the conveyancing solicitors who apparently advised that it would be “more efficient” to put the property into a company. The file contained no explanation of that advice and it did not in …

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Financial Provision: Divisional conflict

Stephen Smith highlights areas of conflict between family law and other divisions and the potential issues that may arise ‘The Supreme Court will decide in Prest whether the need for a fair result on the family issues enables private corporate arrangements to be disrupted and the corporate veil pierced.’ As a family lawyer I, along …

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Financial Provision: Predictions on Prest

Kirstie Law outlines the background in Prest v Prest and the issues before the recent appeal in the Supreme Court In family cases, there is no arm’s length dealing and, if a spouse is able to hide assets behind a corporate structure, a just outcome in financial remedy proceedings may be impossible to obtain. Family …

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Emergency Remedies: The big freeze

Jo Hall details best practice and recent case law on freezing order applications These are applications that require quick thinking and deft handling, often under time pressure. An application for a without notice freezing order is a remedy of last resort to be most carefully applied. Practitioners should be wary of the potential consequences of …

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Company: Dance of the corporate veil

Clare Arthurs and Alex Fox reflect on the Supreme Court judgment in Nutritek The Supreme Court clearly declined to extend the circumstances in which the corporate veil may be pierced. The corporate veil has been in the limelight of late. The Court of Appeal in VTB Capital v Nutritek International Corp [2012] kept it drawn …

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Trusts And Divorce: Piercing the corporate veil

Prest shows that family judges must uphold company law when considering what constitutes the matrimonial pot, as James Copson discusses Where Family Division judges have fallen into error time and again has been their reliance on what Cumming-Bruce LJ referred to as ‘abundant authority’ in Nicholas that the veil can be lifted if there are …

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Corporate Assets: Divisional divide

James Copson analyses the impact of Petrodel v Prest and the repercussions for family lawyers Rimer LJ made it clear that the husband helping himself to the companies’ assets did not alter the status of the companies as separate entities from the owner of their shares. The Court of Appeal decision in Petrodel v Prest …

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