Everclear Ltd (BVI) v Agrest & Anor

Everclear Ltd (BVI) v Agrest & Anor

The contract for the sale of the share in Everclear Limited was conditional upon Chesnokov obtaining mortgage finance, which was only fulfilled after the court order restraining dealings with the property. Therefore, the judge was entitled to set aside the transfer under section 23 of the Matrimonial and Family...

Source-derived case information.

Parties
Appellant: Everclear Limited (BVI); 1st Respondent: Boris Agrest; 2nd Respondent: Janna Kremen
Jurisdiction
England and Wales
Judgment Date
09 March 2011
Procedural Posture
Appeal / Judgment
Outcome
Appeal dismissed
Legal Topics
Matrimonial Financial Relief, Avoidance of Transactions, Beneficial Ownership, Sham Transactions, Discretionary Relief
Family Law Property Law Company Law Matrimonial Financial Relief Avoidance of Transactions Beneficial Ownership Sham Transactions Discretionary Relief

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Parties

Everclear Limited (BVI)

Appellant

Boris Agrest

1st Respondent

Janna Kremen

2nd Respondent

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Whether the transfer of the single share in Everclear Limited to George Chesnokov can be set aside under section 23 of the Matrimonial and Family Proceedings Act 1984
  2. 2 Whether the contract for sale was conditional and when beneficial ownership passed
  3. 3 Whether the judge should exercise discretion to set aside the transfer

Ratio Decidendi

The contract for the sale of the share in Everclear Limited was conditional upon Chesnokov obtaining mortgage finance, which was only fulfilled after the court order restraining dealings with the property. Therefore, the judge was entitled to set aside the transfer under section 23 of the Matrimonial and Family Proceedings Act 1984.

Court Disposition

Appeal dismissed

Orders

  • Transfer of the single share in Everclear Limited to George Chesnokov set aside
  • Declaration that Edward Kinigopolou acted as nominee for Boris Agrest