Read the full judgment text of FCMC 6340/2018 on BabelCite. This Family Court judgment was delivered on 28 August 2024 before Deputy Judge Robin Egerton.
Matrimonial Proceedings – Beneficial Ownership – Trust – Shareholding – Preliminary Issue – Burden of Proof – Divorce Proceedings – Ancillary Relief – Family Business – CEC and CL Companies – Wife's Shareholding – Interveners' Claim – Father's Evidence – Credibility – Informal Arrangement – Express Trust – Rule Against Perpetuities – Costs – Party and Party Basis – Adjournment for Case Management Hearing – Petitioner LCTD – Respondent CKMC – Interveners CCSS, CKY, CCLRD, CCLRE – Deputy Judge Robin Egerton – District Court – Judgment Date 28 August 2024 – The proceedings commenced with the Wife's Petition filed on 24 May 2018 and a Decree Nisi of Divorce was pronounced on 19 June 2019. The Husband and Wife have two children over 18 years old. The Wife holds legal title to 35% of shares in CEC and 20% of shares in CL. The Interveners, being the Wife's siblings, claimed the Wife held these shares on trust for them. The Father, who established the companies, did not give evidence. The Court found the Interveners failed to discharge the burden of proof to establish an express trust over the CL shares due to inconsistent evidence and the rule against perpetuities. Regarding CEC shares, the Court found an informal family arrangement more probable than an express trust due to lack of formal accounting and inconsistent evidence. The Husband's positive case that shares were a reward was also not accepted. The Interveners' Points of Claim were dismissed. The Interveners were ordered to pay 75% of the Husband's costs. The case was adjourned for a Case Management Hearing.
Legal issues: Beneficial Ownership of CEC Shares · Beneficial Ownership of CL Shares
Outcome: Interveners' Points of Claim dismissed
Cites 3 cases