Read the full judgment text of FCMC 7500/2010 on BabelCite. This Family Court judgment before Deputy District Judge Carlson.
Matrimonial causes – ancillary relief – asset division – beneficial ownership – Prest v Petrodel – 50:50 split – lump sum – periodical payments – The court determined the division of assets between a husband and wife where the husband was absent from trial. The court applied the Prest v Petrodel principle to include company assets held on trust for the husband. The asset pool was adjusted by excluding certain items. The court ordered a 50:50 split of the adjusted assets, resulting in a lump sum payment to the wife and periodical payments for the son.
Legal issues: Division of Assets · Treatment of Company Assets · Asset Inclusions and Exclusions
Outcome: Lump sum awarded to wife; periodical payments for son; costs to husband.
Cites 2 cases