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11 October 2013 / Robert Hines
Issue: 7579 / Categories: Features , Family
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Revealing assets

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Robert Hines on the family court’s approach to orders dealing with offshore assets

In January 2013, in the case of M v M [2013] EWHC 2534 (Fam), [2013] All ER (D) 133 (Aug), Mrs Justice King made a record £53m award to a Russian wife under Pt III of the Matrimonial and Family Proceedings Act 1984 (Pt III). In reaching this decision, King J had to consider the recent landmark Supreme Court decision of Prest v Petrodel [2013] UKSC 34, [2013] All ER (D) 90 (Jun), in determining whether residential property owned by a number of companies could be transferred to the wife, notwithstanding the corporate veil.

Background

H and W are both Russian nationals, who met in 1987 when they worked in a factory together; H was a telephone technician and W worked in the cultural department. H and W starting living together in 1989 and they were married in 1991. There are four children of the family, although the oldest two (who are both over 18) are from the parties’ previous relationships. H

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