Prest v Prest & Ors [2012] EWCA Civ 325 (16 February 2012)

Permission to appeal granted on issues of piercing the corporate veil, Nigerian customary law, and form of order; refused on value of Petrodel and wife's budget; husband's obligation to discharge costs and secure wife's appeal costs imposed as conditions.

Citation: [2012] EWCA Civ 325
Parties: Appellant: Yasmin Prest; Respondent: Michael Prest; Respondents: Petrodel Upstream Ltd and other companies
Jurisdiction: England and Wales
Judgment Date: 16 February 2012
Procedural Posture: Appeal / Permission to Appeal Granted
Outcome: permission to appeal granted in part, refused in part
Legal Topics: Ancillary Relief, Piercing the Corporate Veil, Resulting Trust, Nigerian Customary Law

Family Law Company Law Ancillary Relief Piercing the Corporate Veil Resulting Trust Nigerian Customary Law

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Party arguments 2 Amounts and remedies 4

Parties

Yasmin Prest

Appellant

Michael Prest

Respondent

Petrodel Upstream Ltd and other companies

Respondents

Procedural Posture

Appeal / Permission to Appeal Granted

Legal Issues

1 circumstances for piercing the corporate veil in ancillary relief proceedings
2 application of Nigerian customary law to shareholding
3 validity of simultaneous lump sum and property transfer orders

Ratio Decidendi

Court Disposition

permission to appeal granted in part, refused in part

Orders

husband must discharge historic costs within 14 days
husband must pay £540,000 on account of trial and earlier costs within 14 days