PS -v- HF and SS [2008] JRC 154 (18 September 2008)

PS -v- HF and SS [2008] JRC 154 (18 September 2008)

There was no evidence that the petitioner intended to defeat the respondent's claims; therefore, an order requiring surrender of his passport was not justified. Security for payment should be provided by a security interest over the shares transferred, not by restricting the petitioner's movement.

Citation
[2008] JRC 154
Parties
Company: P Dental Services Limited; Petitioner: Petitioner; Respondent: Respondent
Jurisdiction
Jersey
Judgment Date
18 September 2008
Procedural Posture
Family/company Law Share Transfer and Financial Settlement / Post Judgment Orders and Directions
Outcome
Orders made as set out, including transfer of shares, payment schedule, and security interest over shares; petitioner's undertaking to remain in Jersey accepted.
Legal Topics
Share Transfer, Security Interest, Financial Settlement, Enforcement of Orders
Family Law Company Law Share Transfer Security Interest Financial Settlement Enforcement of Orders

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 2 Authorities cited 2 Party arguments 2 Amounts and remedies 6
Sign in to unlock

Parties

P Dental Services Limited

Company

Petitioner

Petitioner

Respondent

Respondent

Procedural Posture

Family/company Law Share Transfer and Financial Settlement / Post Judgment Orders and Directions

Legal Issues

  1. 1 Whether the petitioner should provide security for payment of the respondent's share in the company
  2. 2 Whether the petitioner should be prohibited from leaving Jersey until payment is made
  3. 3 Appropriate mechanism for securing the respondent's interest

Ratio Decidendi

There was no evidence that the petitioner intended to defeat the respondent's claims; therefore, an order requiring surrender of his passport was not justified. Security for payment should be provided by a security interest over the shares transferred, not by restricting the petitioner's movement.

Court Disposition

Orders made as set out, including transfer of shares, payment schedule, and security interest over shares; petitioner's undertaking to remain in Jersey accepted.

Orders

  • Respondent to transfer her interest in the company to the petitioner and resign as director and secretary.
  • Petitioner to pay respondent £95,896.66 in three instalments: £40,000 within 28 days, £27,948.33 within six months, £27,948.33 within twelve months.