Wills & Trusts Law Reports | March 2016 #157The first and second defendants are a married couple. The defendants purchased 17 Blackmore Crescent, Woking, Surrey (the property) in 1997. The purchase was financed in part using a loan secured on the property.
By declaration of trust dated 14 January 1998 (the trust deed), the first defendant transferred his beneficial interest in the property to the second defendant. Under the terms of the trust deed, the property was to be held upon trust for the second defendant, who was to have sole use and occupation of the property and was to indemnify the first defendant in respect of th...
Vanessa Mitchell examines the options available under the Insolvency Act 1986 ‘The circumstances of a case will influence the extent to which the Insolvency Act 1986 can be a useful tool – the setting aside of a transaction may be more beneficial if eg there would be adverse tax consequences if monies were paid out.’ …
Continue reading "Insolvency: Alternative route"
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