Petrodel v Prest: hiding assets behind the corporate veil? – Halsbury’s Law Exchange

Posted November 2nd, 2012 in appeals, company law, disclosure, financial provision, matrimonial home, news by sally

For a long time family lawyers and the family courts have made the best of the creaking mechanism for financial provision that is the Matrimonial Causes Act 1973 (MCA 1973) (much amended…). Procedural changes are made but in terms of the interpretation of the MCA 1973 itself, case law is king. The family courts “make do and mend” so that the nearly 40-year-old primary legislation is fit for purpose. But the Court of Appeal last week decided that that the company law case of Salomon v A Salomon and Company, Limited [1897] AC 22 applies as much in the disposition of ancillary relief proceedings as in other proceedings.

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Halsbury’s Law Exchange, 1st November 2012