header-logo header-logo

Off shore trust?

11 September 2008 / David Barry
Issue: 7336 / Categories: Features , Family
printer mail-detail

When can (or will) Jersey courts enforce English orders? By David Barry

In The Imk Family Trust (Mubarak v Mubarik And Ors) Royal Court Of Jersey (deputy bailiff of Jersey, unreported, 15 August 2008) the husband and wife married in 1983. The husband and wife, as settlors, created the IMK Family Trust (the trust). The trust is a Jersey discretionary trust. The beneficiaries are the settlors, their named children and other children/issue. The trustees are third party trustees.

The trust owns shares in a Bermuda company which is the holding entity for the husband's business. The parties separated and the husband excluded the wife as a beneficiary of the trust. Mr Justice Bodey made an order requiring the husband to pay to the wife the sum of £4.875m (the ancillary relief orders).

The wife brought an application for the husband to be barred from any further participation in the English proceedings. Bodey J made an order providing if the husband wished to continue to participate he had to write a letter to the trustees stating he wished them to assist him in meeting his

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

NLJ career profile: Liz McGrath KC

NLJ career profile: Liz McGrath KC

A good book, a glass of chilled Albarino, and being creative for pleasure help Liz McGrath balance the rigours of complex bundles and being Head of Chambers

Burges Salmon—Matthew Hancock-Jones

Burges Salmon—Matthew Hancock-Jones

Firm welcomes director in its financial services financial regulatory team

Gateley Legal—Sam Meiklejohn

Gateley Legal—Sam Meiklejohn

Partner appointment in firm’s equity capital markets team

NEWS

Walkers and runners will take in some of London’s finest views at the 16th annual charity event

Law school partners with charity to give free assistance to litigants in need

Could the Labour government usher in a new era for digital assets, ask Keith Oliver, head of international, and Amalia Neenan FitzGerald, associate, Peters & Peters, in this week’s NLJ

An extra bit is being added to case citations to show the pecking order of the judges concerned. Former district judge Stephen Gold has the details, in his ‘Civil way’ column in this week’s NLJ

The Labour government’s position on alternative dispute resolution (ADR) is not yet clear

back-to-top-scroll