Read the full judgment text of FCMC 7500/2010 on BabelCite. This Family Court judgment was delivered on 22 March 2013 before Deputy District Judge Carlson.
Matrimonial Proceedings and Property Ordinance – section 17 – disposition of assets – beneficial ownership – ancillary relief – asset pool – sham transaction – District Court. The Petitioner applied under section 17 of the Matrimonial Proceedings and Property Ordinance to set aside the Respondent's disposition of his shareholding in L&H. The Court found the disposition was made at an undervalue and with the intention of defeating the Petitioner's claim for financial provision. The Respondent was deemed the beneficial owner of the shares, which were to be valued and included in the asset pool for distribution.
Legal issues: Whether disposition under s.17 MPPO was made to defeat claim · Whether husband remains beneficial owner
Outcome: Application granted; Respondent deemed beneficial owner of L&H shares; shares to be included in asset pool.
Cites 2 cases