23 Oct 2008
REGAL CASTINGS LTD V G M AND G N LIGHTBODY AND ORS SC 72/2007
- Citation
- REGAL CASTINGS LTD V G M AND G N LIGHTBODY AND ORS SC 72/2007
- Court
- Supreme Court
The Court held the transfer of the family home was an alienation with intent to defraud under s 60 Property Law Act 1952 (intent properly inferred from insolvency/near insolvency, transfer at under-value, secrecy, retention of benefit and gifting programme); the trustees were not protected by s 60(3) because they were tainted by the settlor's knowledge; s 60 can operate to provide relief in respect of Land Transfer land and, where appropriate, the Court will grant in personam remedies (including orders to transfer a share and remedial constructive trust) to give effect to s 60, accordingly th…