AAZ v BBZ & Ors

AAZ v BBZ & Ors

All assets acquired during the marriage are matrimonial property and subject to equal sharing. Trust assets are accessible resources for Respondent and available for distribution. P Ltd is Respondent's nominee and holds assets for Respondent. The March 2015 disposition was intended to defeat Applicant's claim and is set aside. Applicant is entitled to 41.5% of total marital assets, including specific asset transfers and a lump sum payment. Orders are enforceable against Respondent and P Ltd jointly and severally.

Parties
Applicant: AAZ; Respondent: BBZ; 2nd Respondent: C Ltd; 3rd Respondent: P Ltd
Jurisdiction
England and Wales
Judgment Date
15 December 2016
Procedural Posture
Divorce/ancillary Financial Relief / Final Judgment
Outcome
Applicant's claim for ancillary financial relief succeeds. Respondent and P Ltd jointly and severally liable for lump sum payment.
Legal Topics
Ancillary Financial Relief, Matrimonial Property, Trust Assets, Enforcement of Orders, Maintenance, Piercing Corporate Veil, Transactions Defrauding Creditors
Family Law Trusts Law Insolvency Law Ancillary Financial Relief Matrimonial Property Trust Assets Enforcement of Orders Maintenance +2 more

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Parties

AAZ

Applicant

BBZ

Respondent

C Ltd

2nd Respondent

P Ltd

3rd Respondent

Procedural Posture

Divorce/ancillary Financial Relief / Final Judgment

Legal Issues

  1. 1 Whether all assets are matrimonial property
  2. 2 Whether Respondent made a special or stellar contribution
  3. 3 Validity and effect of trust structures

Ratio Decidendi

All assets acquired during the marriage are matrimonial property and subject to equal sharing. Trust assets are accessible resources for Respondent and available for distribution. P Ltd is Respondent's nominee and holds assets for Respondent. The March 2015 disposition was intended to defeat Applicant's claim and is set aside. Applicant is entitled to 41.5% of total marital assets, including specific asset transfers and a lump sum payment. Orders are enforceable against Respondent and P Ltd jointly and severally.

Court Disposition

Applicant's claim for ancillary financial relief succeeds. Respondent and P Ltd jointly and severally liable for lump sum payment.

Orders

  • Transfer to Applicant of contents of English property (£2,479,125), Aston Martin (£350,000), Modern Art Collection (estimated value £90,581,865)
  • Respondent and P Ltd to pay Applicant £350,000,000 lump sum