The Supreme Court has found in favour of a wife who sought assets held by her former husband’s companies, in a landmark divorce case focusing on the question of whether assets can be tied up in spouses’ companies.
The case, Prest v Petrodel Resources, saw Supreme Court president Lord Neuberger, Lady Hale, Lord Wilson, Lord Mance and Lord Walker all agree with the judgment reached by Lord Sumption, who concluded that seven disputed properties vested in Mr Prest’s companies were held in trust for the husband, and ordered their transfer.
