Lemos v Lemos & Anor [2016] EWCA Civ 1181 (30 November 2016)

Lemos v Lemos & Anor [2016] EWCA Civ 1181 (30 November 2016)

The appeal is allowed because, with the admission of new evidence, it is well arguable that Mr Lemos had an asset in 1994 which he disposed of for the purpose of putting it beyond the reach of creditors, thus satisfying the threshold for maintaining the freezing injunction pending determination of section 423...

Source-derived case information.

Citation
[2016] EWCA Civ 1181
Parties
Appellant: Joanna Lemos; Respondent: Christos Lemos; Respondent: Church Bay Trust Company Limited
Jurisdiction
England and Wales
Judgment Date
30 November 2016
Procedural Posture
Appeal / Interlocutory Appeal From High Court Judgment Discharging Freezing Injunction
Outcome
Appeal allowed
Legal Topics
Freezing Injunctions, Section 423 Insolvency Act 1986, Trusts, Beneficial Ownership, Transactions at Undervalue
Civil Procedure Insolvency Trusts and Equity Freezing Injunctions Section 423 Insolvency Act 1986 Trusts Beneficial Ownership Transactions at Undervalue

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Parties

Joanna Lemos

Appellant

Christos Lemos

Respondent

Church Bay Trust Company Limited

Respondent

Procedural Posture

Appeal / Interlocutory Appeal From High Court Judgment Discharging Freezing Injunction

Legal Issues

  1. 1 Whether there are arguable prospects of enforcing a judgment against property held by a trust company for the benefit of the defendant
  2. 2 Whether a declaration of trust by the defendant in 1994 constituted a disposition at undervalue under section 423 of the Insolvency Act 1986
  3. 3 Whether the freezing injunction should be maintained pending determination of section 423 proceedings

Ratio Decidendi

The appeal is allowed because, with the admission of new evidence, it is well arguable that Mr Lemos had an asset in 1994 which he disposed of for the purpose of putting it beyond the reach of creditors, thus satisfying the threshold for maintaining the freezing injunction pending determination of section 423 proceedings.

Court Disposition

Appeal allowed

Orders

  • Freezing injunction maintained for 4 weeks from hand down of judgment
  • If section 423 proceedings are instituted within 4 weeks, injunction continues until disposal of those proceedings and satisfaction of judgment