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PB clients’ wealth preservation structures may be impacted by oil tycoon’s divorce ruling

A recent divorce-related ruling in the English Supreme Court has raised the possibility of Hong Kong’s own “corporate veil” being pierced – potentially jeopardising married clients’ assets. In the the divorce of Michael Prest, founder of Nigerian energy group, Petrodel Resources, and Yasmin Prest, the latter contested the oil tycoon’s claim that a number of properties in concern were Petrodel’s…

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