Image from Google Jackets

Sham transaction

Language: English Series: Estates Gazette Case Summaries ; (1994) EGCS 113(1) (25/6/94)Publication details: 1994Subject(s): Summary: "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.

"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.