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Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
The recent case of a British mother of three young children who was extradited from the United States to England to face criminal charges relating to child abduction and passport fraud serves as a stark reminder of the heartbreaking predicament that an international family can face upon the breakdown of a relationship.
It’s not only tax experts that need be alive to the new transparency requirement for company ownership in overseas territories, divorce lawyers will take a keen interest too.
New disclosure rules pushed through the House of Commons on 1 May 2018 will require British overseas territories, including the Cayman Islands, Bermuda and the British Virgin Islands, to publish company ownership registers by 31 December 2020.
In a case involving a Parental Order (“PO”) application earlier this year, X (A Child) [2018] EWFC 15, which involved the surrogate child of a married couple in a platonic relationship, the President of the Family Division, Sir James Munby, again showed the flexibility the court is, sensibly, willing to give when making important decisions about the legal status of a child within its family.
London is often seen as “Divorce capital of the world“ by wealthy expats, usually the wives, wanting a generous divorce settlement, but this latest UK case shows there are limits. The English Court of Appeal issued an emphatic “No” in April 2018 to an attempt by a wife to argue that her husband’s earning capacity is capable of being a matrimonial asset, to which the sharing principle applies and in the product of which, as a result, she had a continuing entitlement to share.
In what has recently been described as a landmark decision in Dubai, a financial advisor, Neil Grant, was reportedly convicted by the Dubai Criminal Courts of operating a company without being registered by the authorities. According to newspaper reports investors are now looking to recover losses “potentially running into millions of pounds”.
Jemma Brimblecombe
Charles Richardson
Oliver Oldman
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