Sham transaction
Sham transaction
- 1994
- Estates Gazette Case Summaries (1994) EGCS 113(1) (25/6/94) .
"Midland Bank plc v Wyatt and others" ChD 10 June 1994. A charging order was made on the defendant`s interest in property. His defence, a trust arrangement giving his equity in the property to his wife and children, was found to be a sham intended to protect this asset from commercial risk if he set up in business.
CREDITORS
INSOLVENCY ACT 1986 S423
Insolvency
JOINT OWNERS
SHAM
TRUST
"Midland Bank plc v Wyatt and others" ChD 10 June 1994. A charging order was made on the defendant`s interest in property. His defence, a trust arrangement giving his equity in the property to his wife and children, was found to be a sham intended to protect this asset from commercial risk if he set up in business.
CREDITORS
INSOLVENCY ACT 1986 S423
Insolvency
JOINT OWNERS
SHAM
TRUST