Michael v Michael (No 1)

Michael v Michael (No 1)

The AB Trust is a sham; assets are beneficially owned by the husband. The husband retains a one-third interest in Michael Bros Limited. The Astute share transfer was for valuable consideration and in good faith; section 37 application is dismissed. The English court has jurisdiction to determine these issues. Asset schedule includes indicative values for AB Trust assets and Michael Bros Limited shares in the husband's column.

Parties
Applicant: Stalo Michael; First Respondent: Mario Michael; Second Respondent: Marianna Efstathiou; Third Respondent: Yiasoulla Michael; Fourth Respondent: Youlla Michael; Fifth Respondent: Kyriacos Kyriacou; Sixth Respondent: A; Seventh Respondent: B; Eighth Respondent: Hartsfield Investments UK Limited
Jurisdiction
England and Wales
Judgment Date
08 April 2025
Procedural Posture
Financial Remedies Proceedings (divorce) / Final Hearing (part Heard, Judgment Delivered)
Outcome
Judgment delivered; section 37 application dismissed; AB Trust assets and Michael Bros Limited shares included as husband's assets; further directions and valuation required before final distribution.
Legal Topics
Financial Remedies, Sham Trusts, Section 37 Applications, Ownership of Property, Jurisdiction, Costs, Asset Division
Family Law Trusts Law Property Law Financial Remedies Sham Trusts Section 37 Applications Ownership of Property Jurisdiction +2 more

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Parties

Stalo Michael

Applicant

Mario Michael

First Respondent

Marianna Efstathiou

Second Respondent

Yiasoulla Michael

Third Respondent

Youlla Michael

Fourth Respondent

Kyriacos Kyriacou

Fifth Respondent

A

Sixth Respondent

B

Seventh Respondent

Hartsfield Investments UK Limited

Eighth Respondent

Procedural Posture

Financial Remedies Proceedings (divorce) / Final Hearing (part Heard, Judgment Delivered)

Legal Issues

  1. 1 Whether the AB Trust is a sham and assets are beneficially owned by the husband
  2. 2 Ownership of Michael Bros Limited shares
  3. 3 Validity of Astute Capital Investments share transfer

Ratio Decidendi

The AB Trust is a sham; assets are beneficially owned by the husband. The husband retains a one-third interest in Michael Bros Limited. The Astute share transfer was for valuable consideration and in good faith; section 37 application is dismissed. The English court has jurisdiction to determine these issues. Asset schedule includes indicative values for AB Trust assets and Michael Bros Limited shares in the husband's column.

Court Disposition

Judgment delivered; section 37 application dismissed; AB Trust assets and Michael Bros Limited shares included as husband's assets; further directions and valuation required before final distribution.

Orders

  • Section 37 application dismissed.
  • Indicative asset schedule includes AB Trust assets and Michael Bros Limited shares as husband's assets.