The equestrian world involves high-value assets, complex personal and business arrangements, and inherent risks. Whether you’re a rider, athlete, trainer, breeder, landowner, investor or run an equestrian business, we’re uniquely positioned to offer bespoke solutions grounded in deep sector knowledge, reflecting the nuances of this lifestyle and the ambitions behind it.
Forging closer connections is at the heart of what we do. We work alongside a trusted network of advisors in the equestrian sector, including agents, bankers and insurance brokers, to ensure our clients’ interests are protected, nurtured and positioned for long-term success.
We’re looking forward to what’s next as we support existing clients and welcome new ones.
Forsters acts for Caudwell in prestigious branded residences agreement at 1 Mayfair with Dorchester Collection
16 December 2025
News
Leading London law firm, Forsters, acted on behalf of super-prime property developer Caudwell on the appointment of Dorchester Collection to provide luxury services to residents at 1 Mayfair. The prestigious scheme on South Audley Street, with a GDV of over £2bn, will bring 29 new residences to market in the latter part of 2026.
Forsters brought together a collaborative cross-firm team including lawyers from its commercial and residential real estate teams, property litigation, and its hotels team to handle the negotiation of the bespoke agreements from both a legal and commercial perspective. The ability to draw on expertise from across Forsters enabled the firm to forward think risk and embed the agreed outcomes in the suite of documents. The Forsters’ hotels team expertise was integral to the negotiations with Dorchester Collection. Dorchester Collection was represented by Dentons; led by partners Chris Bennett and Rick Ross, the Global Chair of the practice.
Dorchester Collection, the mark of distinction reserved for the world’s most extraordinary hotels, including The Dorchester, as well as branded residences will provide bespoke luxury services including, concierge and other hotel-style services for residents.
The bespoke property management agreements will also see the provision of ‘housekeeping services’ from at-home dining and event management to pet care and personalised flower arrangement.
Helen Marsh, Partner, Forsters, said, “Forsters was delighted to work with the Caudwell team on bespoke property management arrangements with Dorchester Collection for 1 Mayfair. The breadth of legal expertise required to manage and finalise this deal is testament to the strength of our real estate practice. The management agreement is the cumulation of years of work with Caudwell, which included advice on the legal structures of the residences and the services provided by Dorchester Collection.”
Richard Bosson, Director of Caudwell, said, “The expertise and service brought to this agreement by the Forsters team was exemplary. The cross-practice team was able to bring a wealth of experience to the table and negotiate an agreement with Dorchester Collection that will ensure that the exceptional amenities and service provided at 1 Mayfair will be to the highest standards.”
1 Mayfair has 24 principal residences including lateral apartments, penthouses and townhouses, five further pied-à-terre and stately home inspired entertaining halls and lounges designed around a central garden. It will be complete with luxury amenities including a health spa featuring a 20-metre (65 ft) swimming pool, gym and treatment rooms, basement parking and 24-hour security, concierge and valet parking managed by Dorchester Collection.
The negotiation of the agreement was led by Helen Streeton, a Partner in the Commercial Real Estate team at Forsters.
Navigating the new frontier: alternative enforcement injunctions, fraudulent default judgments, and cross-border enforcement
12 December 2025
News
The recent decision of the English Commercial Court in Federal Republic of Nigeria and another v Williams[2025] EWHC 2217 (Comm) marks a significant development in the law of anti-enforcement injunctions (AEIs), particularly in the context of sovereign disputes and international enforcement strategy. Mr Justice Henshaw’s judgment expands the scope of anti-enforcement injunctions (AEIs) to restrain enforcement of English judgments abroad. This is a notable evolution in the court’s equitable jurisdiction and is the first reported instance of the English court limiting the enforcement of its own judgments. Yet what are the wider implications at stake?
Anti-enforcement injunctions: a broader reach
Traditionally, AEIs have been deployed to prevent enforcement of foreign judgments in England. In this case, the court granted an AEI to restrain enforcement of an English default judgment in the United States (New York). The judgment clarifies that there is no principled reason to distinguish between foreign and domestic judgments when considering injunctive relief – especially where serious allegations of fraud are in play.
Henshaw J held that the English court has jurisdiction to restrain enforcement of its own judgments abroad, particularly where enforcement would be oppressive or unjust. The court applied the higher threshold of a “high probability of success” given the serious nature of the fraud allegations, and found that FGN and AG’s claim met this standard.
This decision confirms that AEIs are not confined to foreign judgments and can be used to protect the integrity of English proceedings from misuse abroad.
Fraudulent default judgments and cross-border enforcement
At the heart of the dispute was a 2018 English default judgment in favour of Dr Williams for approximately USD 15 million. This judgment was obtained as part of Dr Williams’ long-running dispute with the Federal Government of Nigeria and its Attorney General – a dispute that stems from a 1986 undercover operation that led to his conviction and later pardon. Nigeria alleges that the judgment was obtained through fraud, including forged documents and misrepresentations. The court found that Nigeria had a strong prima facie case and that enforcement in New York would risk irreparable harm before the fraud claim could be resolved.
The judgment underscores the court’s willingness to intervene where enforcement abroad would frustrate the administration of justice. The AEI was granted to preserve the status quo and prevent a potentially fraudulent judgment from being executed in a foreign jurisdiction.
Importantly, the court balanced the equities: while Dr Williams faced delay, Nigeria offered a cross-undertaking in damages, and interest would continue to accrue. This careful calibration of harm reinforced the appropriateness of injunctive relief.
Comity and judicial cooperation
The decision also reflects a nuanced approach to comity. The English court acknowledged that restraining enforcement of its own judgment abroad poses fewer comity concerns than interfering with foreign judgments. Moreover, the New York court had already stayed enforcement proceedings pending the outcome of the English fraud claim, demonstrating a high degree of judicial cooperation.
This mutual deference between jurisdictions illustrates a growing trend of cross-border judicial restraint, where courts respect each other’s processes to ensure fair outcomes. The AEI served not as a challenge to foreign sovereignty, but as a mechanism to uphold the integrity of English proceedings.
Implications for enforcement strategy
For international litigators, this case offers several strategic insights to be borne front of mind:
AEIs as a defensive tool: AEIs can now be considered in enforcement planning even against English judgments, particularly in cases where there are allegations of fraud.
Equity-driven strategy: Litigators should assess the strength of fraud claims early and be prepared to offer undertakings to support injunctive relief.
Cross-border coordination: Engaging with foreign courts to secure stays can bolster the case for AEIs and prevent premature enforcement of judgments.
Preserving forum integrity: AEIs help maintain coherent litigation strategy and prevent fragmentation across jurisdictions.
Conclusion
The Commercial Court’s decision in Nigeria v Williams represents a significant extension of AEI jurisprudence, affirming the court’s commitment to protecting its processes from abuse. Significantly, for international litigators, this decision signals a need for proactive, coordinated strategies that balance enforcement objectives with the integrity of proceedings across jurisdictions.
As fraud and enforcement increasingly intersect across borders, ultimately, this judgment provides a timely and practical precedent for equitable intervention in an increasingly interconnected litigation landscape.
Despite heavy lobbying from over 60 flexible workspace operators regarding business rates, the budget did not go their way. The anticipated new higher value multiplier has been announced and it is likely to hit flex operators hard.
From 1 April 2026, a new higher business rates multiplier for larger properties with a rateable value of £500,000 or more will be introduced. These properties will face a multiplier of 2.8p above the standard 48p rate.
In the article, Owen examines:
the Valuation Office Agency (VOA)’s recent reclassification of flexible workspaces, which has significantly increased operating costs
how higher costs could push SMEs and startups away from flex spaces, reducing occupancy and weakening demand
why operators may avoid prime locations and target lower-value areas to manage rate exposure
the strain on all-inclusive models
how retroactive policy changes create instability, complicating investment decisions and long-term planning for operators and landlords.
Forsters LLP expands into the Middle East with new Abu Dhabi Global Market base
8 December 2025
News
Leading London law firm Forsters LLP has announced its entry into the Middle East with the launch of a base in Abu Dhabi Global Market (ADGM). This strategic move marks a significant milestone in the firm’s international growth and reflects its commitment to serving the evolving needs of global private wealth clients.
The expansion will be spearheaded by Private Wealth Partner James Brockhurst, a recognised expert in succession planning, tax, family governance and cryptoassets. James has long advised high net worth individuals, family offices, entrepreneurs and trustees across the Middle East, and is known for his technical expertise and empathetic approach. His frequent travel to the region over many years and understanding of private wealth issues internationally make him ideally placed to lead Forsters’ new offering in the region. James will be supported by a cross-practice Middle East team made up of private wealth, corporate, dispute resolution and real estate specialists.
“Forsters has always taken pride in building close, trusted relationships with our clients,” said James Brockhurst. “Establishing a presence in ADGM allows us to be even closer to our Middle Eastern clients as well as those with interests in the Middle East and to support them with the full breadth of our private wealth expertise, including cross-border planning, family governance and cryptoasset advisory. Our longstanding commitment to the region has given us a deep understanding of the cultural and local dynamics at play, including Sharia principles, which informs our advice.”
Emily Exton, Managing Partner at Forsters, added: “Our move into ADGM is about more than geography – it’s about anticipating the future of private wealth. As families and businesses become increasingly global, we are committed to being where our clients need us most. This expansion positions Forsters at the heart of a thriving international financial centre and reinforces our ambition to deliver world-class advice across borders.”
The new office will focus on delivering bespoke advice across the private wealth spectrum with a particular emphasis on advising individuals, families and businesses on succession planning, family governance, cross-border planning and structuring for Middle Eastern families and investors.
This expansion builds on Forsters’ reputation as a leading advisor in the private wealth space and underscores its commitment to delivering exceptional, globally oriented client service.
ADGM has rapidly emerged as a premier international financial centre, attracting a surge of legal and financial entities due to its English common law framework, favourable tax environment and strategic location.
2025 Autumn Budget – key takeaways for equestrian clients
4 December 2025
News
The Autumn Budget has landed, and there are several measures that will directly affect equestrian businesses, property owners, and those with significant assets in the equestrian sector. Below we outline the key changes, what they mean for you, and how we can help you navigate them.
Employment
Rising wage costs for a young workforce
From April 2026, the National Living Wage will rise to £12.71 per hour for those aged 21 and over, while rates for younger workers between 18 and 20 will increase by 8.5% to £10.85 per hour. This is significant for equestrian businesses, which often rely on younger staff for yard work and event support. Apprentices and 16 to 17 year olds will also see increases.
Combined with last year’s National Insurance changes, these measures reflect a broader trend of rising employment costs. For many equestrian businesses, this means reviewing staffing models and budgeting for higher wages.
How we can help
The rules governing minimum wage calculations can be complex. Our team can help ensure that your staff are paid properly, taking into account any unusual working patterns and the various off sets that can be applied to calculations, such as where employees are provided accommodation for their role.
Conversely, where increased staff costs are forcing employers to consider their current structures and requirements, our team can advise employers when navigating the mandatory processes in restructuring and redundancy exercises, to help avoid employment claims (such as unfair dismissal).
Property
High Value Council Tax Surcharge
Many equestrian properties will now be liable to the High Value Council Tax Surcharge (“HVCTS”) – widely reported as “Mansion Tax”. This will be a new charge on owners of residential property in England worth £2 million or more in 2026, taking effect in April 2028: with a proposed revaluation every five years.
For equestrian estates, this could mean annual charges of up to £7,500 for properties at the top end of the scale. It is proposed that the bands will be as follows:
Threshold
Rate
£2m – £2.5m
£2,500
£2.5m – £3.5m
£3,500
£3.5m – £5m
£5,000
£5m +
£7,500
The government will consult on possible reliefs and exemptions, and rules for more complex ownership structures, including those involving companies, funds, trusts and partnerships. The consultation will also cover treatment of those who are required to live in a property as a condition of their job (“tied property”). Interested groups may be lobbying the government that, in valuing a property for this new tax, a distinction should be drawn between the house with its gardens, and surrounding land used for commercial purposes.
Questions remain for now about how the government will value properties; whether, in time, the starting threshold might be lowered (as was the case with the annual tax on enveloped dwellings) and how the annual rates will be re-assessed over time.
Several property tax changes speculated in the runup to the Budget have not been introduced. Principle Private Residence relief on high value homes remains in place and Stamp Duty Land Tax has not been reformed.
Overhaul of planning legislation
The Budget also confirmed a major overhaul of planning legislation, aimed at accelerating development and reducing delays. For equestrian property owners, this could present opportunities for expansion – but also new compliance challenges.
How we can help
We are highly experienced in advising on the acquisition, sale, and management of equestrian property. We can help you assess your exposure to the new HVCTS, review ownership structures (including companies, trusts, and partnerships), and advise on potential reliefs or exemptions as the government consultation progresses.
We guide clients through complex planning matters, including applications for development, changes of use, and compliance with new planning legislation. Our team can help you navigate regulatory requirements, especially for properties in protected areas or with unique equestrian features, ensuring your interests are protected and opportunities for expansion are maximised.
Private Wealth
Inheritance Tax
There had been various rumours about extending the seven-year survivorship period (after which gifts fall out of account for Inheritance Tax (IHT)) or capping the lifetime gift amount. These have not materialised. The nil rate bands have, as expected, remained frozen for a further year until April 2031.
IHT anti-avoidance rules
The government has announced further anti-avoidance measures targeted at the IHT regime for discretionary trusts.
The most significant of these are provisions that will target UK agricultural property held in trusts established by individuals who are not long-term UK residents. As it stands, look-through provisions mean that non-UK situated assets held in trusts established by non-long-term UK residents are within the scope of IHT to the extent that their value is attributable (directly or indirectly) to UK residential property. The look-through provisions do not currently apply to commercial property or agricultural property. From 6 April 2026, the look-through provisions will also apply to non-UK situated assets that derive their value from UK agricultural property, such that it will not be possible to interpose a non-UK incorporated company between the trustee and UK agricultural property to mitigate IHT charges.
Agricultural and Business Property Reliefs
Following lobbying since the previous Budget, the Government has decided that the £1m relievable property allowance (available for qualifying agricultural and business property) should be transferrable between spouses and civil partners. This change will align the position with that of the nil rate band (£325k per person) and residence nil rate band (up to £175k per person). This will be a welcome development for those who have been considering fragmenting ownership to maximise the relief.
Capital Gains (CGT)
A 24% rate of CGT is generally seen as the sweet spot at which the rate of tax does not discourage disposals. Many will be pleased to have seen that there was no change to CGT rates in the Budget.
There were concerns that hold-over relief would be restricted or abolished. However, we have seen no sign of this in the Budget documents released so far. Hold-over relief is a particularly important relief, which prevents a dry CGT charge arising on the gift of certain qualifying assets.
How we can help
We offer strategic advice on succession planning, structuring ownership of equestrian assets and businesses to support long-term goals and minimise disruption. We are well-versed in the evolving rules around Agricultural and Business Property Relief, and can help you make the most of transferable allowances and frozen thresholds.
For clients with cross-border interests or complex family arrangements, we provide tailored guidance on UK tax legislation, ensuring your plans do not result in unforeseen tax consequences. We also advise on gifting strategies, trust structures, family governance and the impact of anti-avoidance measures.
Racing
Stability maintained
The government has confirmed that duty on UK horseracing bets will remain unchanged at 15%, and remote bets on racing will be excluded from the new Remote Betting Rate of 25%.
What should you do now?
This year’s Autumn Budget introduces changes that will affect staffing costs, property ownership, and wealth planning for years to come. Forsters’ Equestrian group is well placed to advise you or your business, combining deep technical expertise with practical insight.
Review workforce models: Budget for higher youth wage rates and consider alternative staffing strategies.
Assess property structures: Understand HVCTS exposure and prepare for planning reforms.
Update succession and tax planning: Revisit gifting, reliefs, and estate planning arrangements in light of frozen thresholds and new rules.
For further insights into how the Autumn Budget affects private clients and business owners, explore our dedicated briefing and stay informed with the latest analysis and updates through our Autumn Budget hub.
Forsters advises Swiss Life Asset Managers on £860m joint venture to deliver 2,250 homes across England
4 December 2025
News
Forsters has advised asset manager and real estate investor Swiss Life Asset Managers on its joint venture with the UK government’s housing and regeneration agency, Homes England, and property developer Capital&Centric. The transaction marks a significant step in addressing the UK housing shortage by attracting institutional investment into the sector.
Known as “The Impact & Places Partnership”, the venture will focus on delivering residential-led regeneration projects that are socially inclusive, environmentally sustainable, and reinvigorate underinvested regions across England. Under the agreement, Swiss Life Asset Managers and Capital&Centric will take a combined 60% stake in the partnership. The project is expected to deliver £860million of mixed-use residential development over the next decade
The joint venture was entered into on 19 November 2025.
Christine Dubignon commented: “This partnership is a great example of collaboration between public and private sectors to deliver long-term impact. We are proud to have played a part in structuring such an innovative deal.”
Peter Selwyn added: “We are delighted to have supported Swiss Life Asset Managers on this transformative venture which will give a major boost to urban areas, while ensuring sustainability and inclusion . It demonstrates the growing role of institutional capital in tackling housing challenges and creating sustainable communities.”
