Benkel v East-West German Real Estate Holding & Ors

Benkel v East-West German Real Estate Holding & Ors

The court found that the transaction was entered into for the purpose of concealing the ownership of assets, with Ms Helbet and Mr Dikautschitsch acting as nominees for Mr Fishman. The evidence established that Mr Dikautschitsch held his interests in East-West UK and East-West Germany as a nominee for Mr Fishman, whose assets now vest in the claimant as trustee in bankruptcy. Accordingly, the claimant is entitled to an order transferring all powers, rights, and interests in East-West UK to him.

Parties
Claimant: Joseph Benkel; First Defendant: East-West German Real Estate Holding; Second Defendant: Mirella Elena Helbet; Third Defendant: Willibald Dikautschitsch
Jurisdiction
England and Wales
Judgment Date
30 March 2021
Procedural Posture
Civil / Final Judgment
Outcome
Claim allowed
Legal Topics
Asset Concealment, Nominee Arrangements, Bankruptcy Trustee Powers, Cross Border Insolvency, Corporate Structure, Adverse Inference
Insolvency Trusts Company Law Asset Concealment Nominee Arrangements Bankruptcy Trustee Powers Cross Border Insolvency Corporate Structure +1 more

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Parties

Joseph Benkel

Claimant

East-West German Real Estate Holding

First Defendant

Mirella Elena Helbet

Second Defendant

Willibald Dikautschitsch

Third Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Whether the transaction involving East-West UK and East-West Germany was entered into for the purpose of concealing assets of Mr Fishman
  2. 2 Whether Ms Helbet and Mr Dikautschitsch held their interests as nominees or trustees for Mr Fishman
  3. 3 Whether the claimant is entitled to orders transferring powers, rights, and interests in East-West UK to him as trustee in bankruptcy

Ratio Decidendi

The court found that the transaction was entered into for the purpose of concealing the ownership of assets, with Ms Helbet and Mr Dikautschitsch acting as nominees for Mr Fishman. The evidence established that Mr Dikautschitsch held his interests in East-West UK and East-West Germany as a nominee for Mr Fishman, whose assets now vest in the claimant as trustee in bankruptcy. Accordingly, the claimant is entitled to an order transferring all powers, rights, and interests in East-West UK to him.

Court Disposition

Claim allowed

Orders

  • Ms Helbet to transfer all powers, rights, and interests in East-West UK to Mr Benkel as trustee in bankruptcy of Mr Fishman
  • Mr Benkel to control East-West UK and its ownership of East-West Germany