Jackson v Song [2021] EWHC 1636 (Ch) (24 June 2021)

Jackson v Song [2021] EWHC 1636 (Ch) (24 June 2021)

Ms Song had a 50% beneficial interest in the property based on common intention and detrimental reliance. The separation agreement was a valid and binding maintenance agreement under section 34 of the Matrimonial Causes Act 1973, and the settlement of Ms Song's financial claims constituted valid consideration. The Trustee failed to prove that the transaction was at an undervalue under section 339 of the Insolvency Act 1986.

Citation
[2021] EWHC 1636 (Ch)
Parties
Applicant (trustee in Bankruptcy of the Estate of Michael John Sheridan): Melissa Jackson; Respondent: Jian Song
Jurisdiction
England and Wales
Judgment Date
24 June 2021
Procedural Posture
Insolvency Application (transaction at Undervalue) / High Court Judgment
Outcome
Application dismissed
Legal Topics
Transaction at Undervalue, Beneficial Ownership, Separation Agreement, Consideration Under Matrimonial Causes Act 1973, Constructive Trust
Insolvency Family Law Property Law Transaction at Undervalue Beneficial Ownership Separation Agreement Consideration Under Matrimonial Causes Act 1973 Constructive Trust

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Parties

Melissa Jackson

Applicant (trustee in Bankruptcy of the Estate of Michael John Sheridan)

Jian Song

Respondent

Procedural Posture

Insolvency Application (transaction at Undervalue) / High Court Judgment

Legal Issues

  1. 1 Whether the payment to Ms Song under the separation agreement was a transaction at an undervalue under section 339 of the Insolvency Act 1986
  2. 2 Whether Ms Song had a beneficial interest in the property at 53 Hamilton Park West, London N5 1AE
  3. 3 Whether the separation agreement provided valid consideration for the transfer of proceeds of sale

Ratio Decidendi

Ms Song had a 50% beneficial interest in the property based on common intention and detrimental reliance. The separation agreement was a valid and binding maintenance agreement under section 34 of the Matrimonial Causes Act 1973, and the settlement of Ms Song's financial claims constituted valid consideration. The Trustee failed to prove that the transaction was at an undervalue under section 339 of the Insolvency Act 1986.

Court Disposition

Application dismissed

Orders

  • Declaration that Ms Song had a 50% beneficial interest in the property at 53 Hamilton Park West, London N5 1AE
  • Declaration that the payment to Ms Song under the separation agreement was not a transaction at an undervalue under section 339 of the Insolvency Act 1986