In re Malabry Invs. Ltd. v [1982] JLR 117 (07 April 1982)

Funds held in the company's bank account subject to a trust in favour of named persons are not available for distribution to the general body of creditors.

Citation: [1982] JLR 117
Parties: Company: Malabry Investments Ltd.
Jurisdiction: Jersey
Judgment Date: 07 April 1982
Procedural Posture: Bankruptcy / Judgment
Outcome: Funds subject to trust excluded from distribution to general creditors.
Legal Topics: Distribution of Assets, Trust Property in Bankruptcy

Insolvency Trusts Distribution of Assets Trust Property in Bankruptcy

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Parties

Malabry Investments Ltd.

Company

Procedural Posture

Bankruptcy / Judgment

Legal Issues

1 Whether funds in company's bank account subject to trust are available for distribution to general creditors

Ratio Decidendi

Funds held in the company's bank account subject to a trust in favour of named persons are not available for distribution to the general body of creditors.

Court Disposition

Funds subject to trust excluded from distribution to general creditors.

Orders

Funds in company's bank account subject to trust to be distributed to named beneficiaries, not general creditors