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Insolvency – Transaction at undervalue. The Chancery Division ruled on an application by the first respondent's trustee in bankruptcy, challenging transactions that the first respondent had entered into in 2010-11 in relation to a property he owned, the first respondent having subsequently been adjudged bankrupt, including a trust deed and consent order disposing of ancillary relief proceedings brought by the first respondent's wife. It held that one of the charges was a sham and so a nullity, but that a second charge had not been proved to be either a sham or a preference within the meaning of s 340 of the Insolvency Act 1986, and the challenge to the trust deed and consent order also failed.
Insolvency – Transaction at undervalue. The Chancery Division ruled on an application by the first respondent's trustee in bankruptcy, challenging transactions that the first respondent had entered into in 2010-11 in relation to a property he owned, the first respondent having subsequently been adjudged bankrupt, including a trust deed and consent order disposing of ancillary relief proceedings brought by the first respondent's wife. It held that one of the charges was a sham and so a nullity, but that a second charge had not been proved to be either a sham or a preference within the meaning of s 340 of the Insolvency Act 1986, and the challenge to the trust deed and consent order also failed.
Our call for sufficient resources for the justice system and for the Bar to scrutinise the BSB’s latest consultation
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