4Eng Ltd v Harper & Ors [2009] EWHC 2633 (Ch) (26 October 2009)

4Eng Ltd v Harper & Ors [2009] EWHC 2633 (Ch) (26 October 2009)

Transfers by Barry Simpson to Joyce Simpson from April/May 2003, including his half share in Sunset Lake, were made at undervalue and for the substantial purpose of putting assets beyond reach of creditors, satisfying s.423 trigger; court orders restoration of assets or their value for benefit of 4Eng.

Citation
[2009] EWHC 2633 (Ch)
Parties
Claimant: 4Eng Limited; Defendant: Roger Harper; Defendant: Barry Alexander Simpson; Defendant: Brenda Harper; Defendant: Andrew Harper; Defendant: Bomar Holdings Limited; Defendant: Joyce Simpson
Jurisdiction
England and Wales
Judgment Date
26 October 2009
Procedural Posture
Civil Claim Under Insolvency Act 1986 S.423 / Final Judgment After Trial
Outcome
Claim partly allowed; orders made for restoration of assets transferred after April/May 2003.
Legal Topics
Transactions at Undervalue, Asset Protection, Restorative Remedies, Fraudulent Transfers, Disclosure Obligations
Insolvency Fraud Trusts and Equity Transactions at Undervalue Asset Protection Restorative Remedies Fraudulent Transfers Disclosure Obligations

Case Brief

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Parties

4Eng Limited

Claimant

Roger Harper

Defendant

Barry Alexander Simpson

Defendant

Brenda Harper

Defendant

Andrew Harper

Defendant

Bomar Holdings Limited

Defendant

Joyce Simpson

Defendant

Procedural Posture

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

Legal Issues

  1. 1 Whether transfers by Barry Simpson to Joyce Simpson were at undervalue and for the purpose of defrauding creditors under s.423 Insolvency Act 1986
  2. 2 Whether relief should be granted to restore assets for benefit of 4Eng as creditor
  3. 3 Extent and nature of orders under s.423 and s.425

Ratio Decidendi

Transfers by Barry Simpson to Joyce Simpson from April/May 2003, including his half share in Sunset Lake, were made at undervalue and for the substantial purpose of putting assets beyond reach of creditors, satisfying s.423 trigger; court orders restoration of assets or their value for benefit of 4Eng.

Court Disposition

Claim partly allowed; orders made for restoration of assets transferred after April/May 2003.

Orders

  • Restoration of Barry Simpson's half share in Sunset Lake to him for benefit of 4Eng.
  • Restoration of other assets transferred by Barry Simpson to Joyce Simpson after April/May 2003.