AP v BP & Ors (financial remedies - appeal - disclosure - privilege) [2023] EWFC 170 (B) (29 August 2023)

AP v BP & Ors (financial remedies - appeal - disclosure - privilege) [2023] EWFC 170 (B) (29 August 2023)

The wife transferred shares in [Company B] to the intervenors within three years of the application, with the intention (at least as a material motive) of defeating the husband's claim for financial relief. The intervenors did not provide valuable consideration, did not act in good faith, and had notice of the...

Source-derived case information.

Citation
[2023] EWFC 170 (B)
Parties
Applicant Husband: AP; Respondent Wife: BP; Second Respondent (intervenor): PN; Third Respondent (intervenor): GN
Jurisdiction
England and Wales
Judgment Date
29 August 2023
Procedural Posture
Financial Remedy Application Under Matrimonial Causes Act 1973, Section 37 / Judgment on Application to Set Aside Dispositions of Shares
Outcome
Application to set aside both sets of share dispositions succeeds. Dispositions set aside.
Legal Topics
Financial Remedies, Avoidance of Disposition, Matrimonial Causes Act 1973 Section 37, Disclosure, Share Transfer, Litigation Privilege
Family Law Financial Remedies Avoidance of Disposition Matrimonial Causes Act 1973 Section 37 Disclosure Share Transfer Litigation Privilege

Source-derived case record

Summary, issues, holding and outcome

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Parties

AP

Applicant Husband

BP

Respondent Wife

PN

Second Respondent (intervenor)

GN

Third Respondent (intervenor)

Procedural Posture

Financial Remedy Application Under Matrimonial Causes Act 1973, Section 37 / Judgment on Application to Set Aside Dispositions of Shares

Legal Issues

  1. 1 Whether the wife's transfer of shares in [Company B] to the intervenors was a disposition intended to defeat the husband's claim for financial relief under section 37 of the Matrimonial Causes Act 1973
  2. 2 Whether the intervenors have a defence under section 37(4) as bona fide purchasers for value without notice

Ratio Decidendi

The wife transferred shares in [Company B] to the intervenors within three years of the application, with the intention (at least as a material motive) of defeating the husband's claim for financial relief. The intervenors did not provide valuable consideration, did not act in good faith, and had notice of the wife's intention. The statutory presumption was not rebutted. The transactions are set aside under section 37(2)(b) of the Matrimonial Causes Act 1973.

Court Disposition

Application to set aside both sets of share dispositions succeeds. Dispositions set aside.

Orders

  • Dispositions of shares in [Company B] from the wife to the intervenors are set aside under section 37(2)(b) of the Matrimonial Causes Act 1973.
  • Position to be restored so that the wife holds 70 shares and ML 30 shares in [Company B].