Akers v Samba Financial Group

Subject Matter

CONFLICT OF LAWS — Jurisdiction — Forum conveniens — Defendant’s application to stay proceedings — Whether courts of England and Wales or Saudi Arabia appropriate forum

[2014] EWHC 540 (Ch); [2014] CN 346, Ch D

CONFLICT OF LAWS — Jurisdiction — Forum non conveniens — Shares held on trust for insolvent Cayman Islands company transferred to Saudi Arabian bank — Trusts unlawful in Saudi Arabia — Company’s liquidators seeking declaration that transfer void disposition — Whether Convention relating to trusts and their recognition applying to transfer — Whether England appropriate forum for determining issue — Recognition of Trusts Act 1987, Sch 1, art 4

[2014] EWCA Civ 1516; [2015] Ch 451; [2015] 2 WLR 1281; [2016] 1 BCLC 657; [2014] WLR (D) 521, CA

COMPANY — Winding up — Disposition of property — Shares in Saudi Arabian banks purportedly held on trust for Cayman Islands company — Saudi Arabia not recognising trusts or division of legal and beneficial interests — Shares transferred to defendant following company’s liquidation — Liquidators seeking declaration that transfer void disposition — Whether trust created and enforceable in respect of assets in jurisdiction not recognising trusts — Whether transfer of shares in breach of trust constituting “disposition of property” — Insolvency Act 1986 (c 45), ss 127, 436

[2017] UKSC 6; [2017] AC 424; [2017] 2 WLR 713; [2017] 2 All ER 799; [2017] 2 All ER (Comm) 97; [2017] 1 BCLC 151; [2017] WLR (D) 57; Case details, SC(E)

CONFLICT OF LAWS — Jurisdiction — Forum non conveniens — Shares in Saudi Arabian banks purportedly held on trust for Cayman Islands company — Shares transferred to defendant following company’s liquidation — Saudi Arabia not recognising trusts or division of legal and beneficial interests — Company’s liquidators seeking declaration that transfer void disposition — Whether Convention on law applicable to trusts and their recognition applying to transfer — Recognition of Trusts Act 1987 (c 14), Sch 1, art 4

[2017] UKSC 6; [2017] AC 424; [2017] 2 WLR 713; [2017] 2 All ER 799; [2017] 2 All ER (Comm) 97; [2017] 1 BCLC 151; [2017] WLR (D) 57; Case details, SC(E)

Appellate History