Aaj Shahzaib Khanzada Ke Saath 4th April 2016 - Exclusive Talk With Hussain Nawaz
- Thread starter Chaos agent
- Start date
Trust law in the UK is not so simple.
that an anchor person who is not even equal in legal understanding to an ordinary lawyer can understand it.
It is despite the fact that the concept of trust management in Pakistan is not very much known.
A simple example is the property belonging to certain children whose father has died and management of the property transfers to the living brother of the deceased father of the children.
In the legal terminology: the deceased father is called the principle owner or the principle executor, the living brother is called the trustee and the children are called the beneficial owners.
It is quite understandable the living brother of the deceased person is a trustee and not the owner of the trust property whose duty it is to supervise and manage the trust property for the benefit of the orphan children of his deceased brother.
In the equation being debated in Pakistani media, the principle owners are the real owners who founded the properties and appointed Maryam Nawaz and others as trustees to manage the properties for the beneficial owners i.e. Husaain Nawaz etc.
In view of the relationship, Maryam Nawaz as a trustee is not the owner of the properties - her role is to honestly manage the property and pass on the proceeds or earnings to serve the interests of the beneficial owners such as Hussain Nawaz etc.
Legally, so far as the Trust Laws in the UK are concerned, Maryam Nawaz can never be treated as the principle owner of such properties.
However, it is not untrue that UK is the land of voluminous opportunities where you can get a property or a business of millions of pound on mortgage just by paying an equity of a few tens of pounds and after a couple of years the gain in profit rises in astonishingly sizeable amounts in pounds. So it will be unjust to compare the potential of growth in business or money in UK with Pakistan.
that an anchor person who is not even equal in legal understanding to an ordinary lawyer can understand it.
It is despite the fact that the concept of trust management in Pakistan is not very much known.
A simple example is the property belonging to certain children whose father has died and management of the property transfers to the living brother of the deceased father of the children.
In the legal terminology: the deceased father is called the principle owner or the principle executor, the living brother is called the trustee and the children are called the beneficial owners.
It is quite understandable the living brother of the deceased person is a trustee and not the owner of the trust property whose duty it is to supervise and manage the trust property for the benefit of the orphan children of his deceased brother.
In the equation being debated in Pakistani media, the principle owners are the real owners who founded the properties and appointed Maryam Nawaz and others as trustees to manage the properties for the beneficial owners i.e. Husaain Nawaz etc.
In view of the relationship, Maryam Nawaz as a trustee is not the owner of the properties - her role is to honestly manage the property and pass on the proceeds or earnings to serve the interests of the beneficial owners such as Hussain Nawaz etc.
Legally, so far as the Trust Laws in the UK are concerned, Maryam Nawaz can never be treated as the principle owner of such properties.
However, it is not untrue that UK is the land of voluminous opportunities where you can get a property or a business of millions of pound on mortgage just by paying an equity of a few tens of pounds and after a couple of years the gain in profit rises in astonishingly sizeable amounts in pounds. So it will be unjust to compare the potential of growth in business or money in UK with Pakistan.
Sohail Shuja
Chief Minister (5k+ posts)
As a lyaman, I can only understand that if everything is so clear and transparent, then why would anyone put it on Panama Leaks...? On prima facie, it appears that there is something which raises the brows of many world renowned financial and legal analysts .....
The real issue is not the technical understanding of the U.K. based trust, it is the trail of the acquisition of the assets in the trust. Where did the money come from. Was that money moved from Pakistan or some other country. An average forensic auditor can easily connects all the dots and show the complete picture of the accumulation of assets. In Pakistan any fast talking politian or their frontman can fool the ordinary people.
There are not many tax havens left due to the strict reporting requirements of foreign holdings in USA and other mature economies. There is always something fishy when these people in power need to use the places like Panama to dump their ill acquired funds.
There is also the big question of credibility of Shareef family. Are they telling the whole truth.
There are not many tax havens left due to the strict reporting requirements of foreign holdings in USA and other mature economies. There is always something fishy when these people in power need to use the places like Panama to dump their ill acquired funds.
There is also the big question of credibility of Shareef family. Are they telling the whole truth.
tahirmajid
Chief Minister (5k+ posts)
jub bhi koi sawal hota hay rona shoro kar daita hay keh mujhey jail mein kion dala, mujhey kion girftaar kia, ye kion kia wo kion kiya waghera waghera, jhoot bolta hay or us se pahley bhi Allhamdulillah kahta hay
Bablu Chota mian can't blame Imran Khan for raising questions which were hiding in bablus wardrobe. Mian Saab thinks Pakistanis are all personal slaves , but mian Saab your upper chamber is empty, today the world is an open book and people take pride in exposing corrupt thieves who hide behind a crooked trail.
Innocent bablu will wipe mian SAABS leaking entrails
Innocent bablu will wipe mian SAABS leaking entrails
zeeshan_xt
Councller (250+ posts)
Yes...oldest trick in the book...as soon as someone asks a difficult question, start playing a victim!
