Gift Ruled to be a Transfer of Beneficial Ownership
This is an interesting case for anyone involved in issues/disputes over legal and beneficial ownership. It includes a useful review of relevant case law and clearly emphasises the importance of the circumstances and facts.
The England and Wales High Court has agreed with Magali Moutreuil that she was the beneficial owner of an investment company that her former cohabitant Peter Andreewitch placed in her name 20 years ago. Both parties had claimed full ownership of the company, which also owned their £2 million former family home, with Andreewitch arguing that Moutreuil was no more than a bare trustee or nominee who held the shares for him on a common intention constructive trust (Moutreuil v Andreewitch, 2020 EWHC 2068 Fam).
The case is well worth reading. You can find the use report at: