Thomas & Anor v Jones & Anor [2025] EWHC 756 (Ch) (08 April 2025)

Thomas & Anor v Jones & Anor [2025] EWHC 756 (Ch) (08 April 2025)

John Jones made gifts of £3m to Adam Jones with the purpose of putting assets beyond the reach of Mr Hamilton, a creditor with substantial claims, in the context of ongoing litigation and freezing orders; the requisite purpose under s.423 Insolvency Act 1986 is established by inference from the facts, including concealment and animus, and the trustees are entitled to relief.

Citation
[2025] EWHC 756 (Ch)
Parties
Claimant: Ed Thomas; Claimant: Matthew Carter; Bankrupt (represented by Trustees): Roderic Alexander Innes Hamilton; Defendant: Adam Jones; Defendant: John Charles Jones
Jurisdiction
England and Wales
Judgment Date
08 April 2025
Procedural Posture
Claim Under S.423 Insolvency Act 1986 / Final Judgment After Trial
Outcome
Claim allowed
Legal Topics
Transactions at Undervalue, Asset Protection, Fraudulent Transfers, Bankruptcy, Freezing Orders
Insolvency Civil Procedure Trusts and Equity Transactions at Undervalue Asset Protection Fraudulent Transfers Bankruptcy Freezing Orders

Case Brief

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Parties

Ed Thomas

Claimant

Matthew Carter

Claimant

Roderic Alexander Innes Hamilton

Bankrupt (represented by Trustees)

Adam Jones

Defendant

John Charles Jones

Defendant

Procedural Posture

Claim Under S.423 Insolvency Act 1986 / Final Judgment After Trial

Legal Issues

  1. 1 Whether gifts of £3m by John Jones to Adam Jones were made for the purpose of putting assets beyond reach of creditors under s.423 Insolvency Act 1986
  2. 2 Whether the trustees are entitled to relief to restore assets to the bankruptcy estate

Ratio Decidendi

John Jones made gifts of £3m to Adam Jones with the purpose of putting assets beyond the reach of Mr Hamilton, a creditor with substantial claims, in the context of ongoing litigation and freezing orders; the requisite purpose under s.423 Insolvency Act 1986 is established by inference from the facts, including concealment and animus, and the trustees are entitled to relief.

Court Disposition

Claim allowed

Orders

  • Adam Jones must restore the £3m gift to the bankruptcy estate or equivalent value.
  • Further relief as the court sees fit to protect victims of the transaction.