Thursday, June 13, 2013

Husband to pay 17.5 Million pounds to estranged wife !! why ?? did she build his business ?? NO!! .. then ?? that’s why I say, read the law before your fall in love or date, don’t read poetry !!! you are married to the government and courts and police IF you ever get into marriage or long term social marriage

Husband to pay 17.5 Million pounds to estranged wife !! why ?? did she build his business ?? NO!! .. then ?? that's why I say, read the law before your fall in love or date, don't read poetry !!! you are married to the government and courts and police IF you ever get into marriage or long term social marriage

 

Men can't hide riches in business to deprive wives in divorce cases: UK court

PTI | Jun 13, 2013, 06.06 AM IST

 

LONDON: In a landmark judgment , the UK's highest court on Wednesday ruled that "dishonest" husbands cannot seek to protect their assets by hiding them in companies in divorce cases. In a case expected to have wide-reaching implications over what has been termed as a "cheats' charter" , the supreme court ordered that a settlement against Michael Prest, founder of the Nigerian oil firm Petrodel, must be enforced even though his assets were said to be tied up in his companies.

In a unanimous ruling, it found that Prest controlled the companies and therefore owned their assets.

His estranged wife, Yasmin Prest, said she was "delighted and relieved" by the judgement.

The court had originally ordered Prest, one of Britain's most prominent black businessmen, to pay £17.5 million and to transfer the properties as part of the divorce . The court of appeal overturned the ruling by stating that the assets belonged to the companies, which were separate legal entities.

But on Wednesday that decision was overturned by seven supreme court judges in a ruling hailed as of huge importance for divorcing couples as well as for family and company law. PTI

Source

http://timesofindia.indiatimes.com/world/uk/Men-cant-hide-riches-in-business-to-deprive-wives-in-divorce-cases-UK-court/articleshow/20566122.cms