Sismey v Salandron illuminates the risks to a party attempting to hold an estate to a lifetime contract that property would be left to them, or to anyone seeking to unbind the estate from the ties of such a contract. Imogen Halstead discusses While the court has previously discussed the possibility of collusive divorce settlements …
Continue reading "The 1975 Act: Contracts to leave property by will"
This post is only available to members.
Ellie Foster and Claire Hunter question whether the idiom ‘till death us do part’ really applies where money is concerned In Hasan, Mostyn J identified clear inconsistencies between the courts’ treatment of a party pursuing an undetermined claim on death as against appealing a decision on death. Claims under Pt III, Matrimonial and Family Proceedings …
Continue reading "Pt III, MFPA 1984: End of the road?"
This post is only available to members.
Rebecca Stone looks at the implications of bankruptcy both prior to and following a financial agreement or order ‘A property adjustment order may not be made once a spouse has been declared bankrupt because the court has no jurisdiction to make an order in relation to assets that have vested in the trustee.’ The ramifications …
Continue reading "Insolvency: Proceed with caution"
This post is only available to members.
Wills & Trusts Law Reports | June 2013 #130Mostyn J granted an application by the applicant (W) to set aside transactions pursuant to s37(2) of the Matrimonial Causes Act 1973 that had been made by the first respondent (H) on about 2 December 2010 by which H disposed of his 86.4% shareholding in D Holdings Limited (DH). None of the respondents opposed the application. There was an issue whether or not the effect of the order operated retrospectively for all purposes, including fiscal purposes. Judgment was reserved and further written submissions were invited to determine whether the order setting aside the transact...
Wills & Trusts Law Reports | September 2012 #122Anthony Morris (Mr Morris) orchestrated a series of frauds between August 2007 and April 2008 by which £52m was misappropriated from various occupational pension schemes by their trustees, GP Noble Trustees Ltd and BDC Trustees Ltd. The appellant was Independent Trustee Services Ltd (ITS), which had been appointed as trustee of the 1653 pension schemes by the Pensions Regulator in July 2008. Mr Morris was found liable in dishonest assistance for £52m and in knowing receipt for £4.89m by Peter Smith J in July 2010 ([2010] EWHC 1653 (Ch)) (the chancery action).
Mr Morris had married...
Liz Cowell examines the courts’ approach to insolvency and transactions at an undervalue ‘A trustee in bankruptcy has the power to apply to the court for an order to restore the bankrupt to the position they would have been in prior to having entered into a transaction at an undervalue.’ The position of the spouse …
Continue reading "Insolvency: Defined interests"
This post is only available to members.
Graeme Fraser examines the complexities of running a claim for financial remedies on divorce where there is a risk of personal and corporate insolvency ‘This article examines the effect of bankruptcy law on financial remedies on divorce, using a case study to demonstrate how this impacts in practice. The case study relates to the insolvency …
Continue reading "Insolvency: Hostage to fortune"
This post is only available to members.
Emma Mould analyses the risks of failing to obtain a final ancillary relief order when dealing with an insolvent spouse ‘Where a person is adjudged bankrupt, any disposition of property made by that person in the period to which IA 1986 (s284) applies is void except to the extent that it is or was made …
Continue reading "Insolvency: Protecting assets"
This post is only available to members.
