Douglas law firm Moroney’s have this week helped former Supermodel Elle Macpherson secure a landmark victory in the Isle of Man high court.
It relates to now insolvent Kaupthing Singer and Friedlander bank and a claim they brought against her regarding a mortgage payment.
Miss Macpherson had set up a nominee company on the Isle of Man in 2006 with a view for purchasing a property in the UK and keeping her address private.
She borrowed over £7 million from KSF for the acquisition of the property.
In her personal capacity she also had an account with KSF holding over £2 million.
The case has related to her plight to have her frozen assets deducted from the total sum her company owed the liquidators.
Due to the mortgage being paid back technically by a company she was told this wouldn’t be allowed.
However the Deemster eventually ruled in favour of Miss Macpherson, heralding a landmark case bringing a little-known legal principal dating back 300 years firmly back into the spotlight.
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