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Family Law
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30 minutes of audio
(+ optional 5 minute online quiz)
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Course Aims:

This podcast is aimed at family law practitioners interested in what the Supreme Court decision in Prest v Petrodel on 12th June 2013 means for the matrimonial finance landscape. It explores in detail the circumstances in which the ‘corporate veil can be pierced’ in financial remedy proceedings and how the Supreme Court ultimately applied trust law principles to unanimously find in favour of the wife’s claim to assets held by her husband’s companies.

After completing the course you will:
  • Appreciate why the decision in Prest will be of interest not just to family lawyers, but also private client, company and insolvency practitioners too;
  • Understand when the family courts will be entitled to pierce the corporate veil in matrimonial finance cases;
  • Be familiar with the approach taken by the Supreme Court to the question of whether the court had power to order the transfer of properties to Mrs Prest, given that they belonged not to Mr Prest, but to his companies;
  • Understand how trust law principles were applied to this case;
  • Understand what this case will mean for the way in which family lawyers approach this type of issue in the future;
  • Appreciate what this case means for the way in which lawyers will advise wealthy spouses wishing to protect their assets;
  • Have considered how the principles in Prest might relate to TOLATA cases.
Specialist Difficulty: 5 of 5
Case Update
Legal Principles
Sources and References:
  • Ben Hashem v Al Shayif [2008] EWHC 2380 (Fam);
  • Green v Green [1993] 1 FLR 326;
  • Miller v Miller; McFarlane v McFarlane [2006] UKHL 24;
  • Mubarak v Mubarak [2001] 1 FLR 673;
  • Prest v Petrodel Resources Limited & Others [2013] UKSC 34;
  • Stack v Dowden [2007] UKHL 17;
  • White v White [2000] UKHL 54;
  • Wicks v Wicks [1998] 1 FLR 470.

In this podcast leading matrimonial finance silk, Christopher Wagstaffe QC from 29 Bedford Row, discusses what the Supreme Court’s judgment in Prest v Petrodel Resources Limited & Others [2013] UKSC 34 means for family law practitioners.


Date Recorded: 3rd July 2013

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