DR v GR & Ors (Financial Remedy: Variation of Overseas Trust) (Rev 1) [2013] EWHC 1196 (Fam) (10 May 2013)

DR v GR & Ors (Financial Remedy: Variation of Overseas Trust) (Rev 1) [2013] EWHC 1196 (Fam) (10 May 2013)

The entire structure, including the Brown Sugar Trust and the interposed companies, constitutes a variable post-nuptial settlement within s24(1)(c) Matrimonial Causes Act 1973, empowering the court to make orders directly in respect of the trust assets. Joinder of trustees and companies is not required for a valid variation order. The matrimonial property, including trust assets (discounted to reflect interests of other beneficiaries), should be divided equally, subject to the wife's needs, resulting in a clean break with specified payments and security.

Citation
[2013] EWHC 1196 (Fam)
Parties
Applicant: DR; 1st Respondent: GR; Respondents: 3rd to 6th Respondents
Jurisdiction
England and Wales
Judgment Date
10 May 2013
Procedural Posture
Financial Remedy / Variation of Settlement Under Matrimonial Causes Act 1973 / Final Judgment After Contested Hearing
Outcome
Application for variation of settlement granted; companies' application to be dis-joined granted; financial remedy order made on clean break basis.
Legal Topics
Variation of Nuptial Settlements, Joinder of Trustees and Companies, Division of Matrimonial Assets, Needs and Sharing Principles, Enforcement of Financial Orders
Family Law Variation of Nuptial Settlements Joinder of Trustees and Companies Division of Matrimonial Assets Needs and Sharing Principles Enforcement of Financial Orders

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Parties

DR

Applicant

GR

1st Respondent

3rd to 6th Respondents

Respondents

Procedural Posture

Financial Remedy / Variation of Settlement Under Matrimonial Causes Act 1973 / Final Judgment After Contested Hearing

Legal Issues

  1. 1 Whether the court can vary a post-nuptial settlement involving interposed companies under s24(1)(c) Matrimonial Causes Act 1973
  2. 2 Whether joinder of trustees and underlying companies is necessary for a valid variation order
  3. 3 How to value and divide matrimonial and non-matrimonial property, including trust assets

Ratio Decidendi

The entire structure, including the Brown Sugar Trust and the interposed companies, constitutes a variable post-nuptial settlement within s24(1)(c) Matrimonial Causes Act 1973, empowering the court to make orders directly in respect of the trust assets. Joinder of trustees and companies is not required for a valid variation order. The matrimonial property, including trust assets (discounted to reflect interests of other beneficiaries), should be divided equally, subject to the wife's needs, resulting in a clean break with specified payments and security.

Court Disposition

Application for variation of settlement granted; companies' application to be dis-joined granted; financial remedy order made on clean break basis.

Orders

  • Matrimonial home (reduced demise) to be sold; wife to receive £650,000 from proceeds, shortfall to be made up by husband, surplus to husband.
  • Red land and field number 5777 to be transferred to husband.