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

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

Quinn Emanuel—James McSweeney

Quinn Emanuel—James McSweeney

London promotion underscores firm’s investment in white collar and investigations

Ward Hadaway—Louise Miller

Ward Hadaway—Louise Miller

Private client team strengthened by partner appointment

NLJ Career Profile: Kate Gaskell, Flex Legal

NLJ Career Profile: Kate Gaskell, Flex Legal

Kate Gaskell, CEO of Flex Legal, reflects on chasing her childhood dreams underscores the importance of welcoming those from all backgrounds into the profession

NEWS
Overcrowded prisons, mental health hospitals and immigration centres are failing to meet international and domestic human rights standards, the National Preventive Mechanism (NPM) has warned
Two speedier and more streamlined qualification routes have been launched for probate and conveyancing professionals
Workplace stress was a contributing factor in almost one in eight cases before the employment tribunal last year, indicating its endemic grip on the UK workplace
In NLJ this week, Ian Smith, emeritus professor at UEA, explores major developments in employment law from the Supreme Court and appellate courts
Writing in NLJ this week, Kamran Rehman and Harriet Campbell of Penningtons Manches Cooper examine Operafund Eco-Invest SICAV plc v Spain, where the Commercial Court held that ICSID and Energy Charter Treaty awards cannot be assigned
back-to-top-scroll