||All England Reporter
|| All ER (D) 66 (May)
||Bankruptcy High Court
Mr Registrar Baister
||Joseph Curl (instructed by DLA Piper UK Ltd) for the applicants.
||Michael Smith (instructed through Direct Access) for DD.
||Simon Hunter (instructed by Smithfield Partners Ltd) for the second to sixth respondents.
||22 April 2016
Bankruptcy - Property available for distribution - Disposal of property - Applicants being trustees in bankruptcy of first respondent - Trustees applying for relief - Whether money in bank accounts belonging to first respondent - Whether flat purchased with money from account being bankruptcy asset - Whether transfer of shares in third respondent company being sham or transaction at undervalue - .
Bankruptcy Property available for distribution. The Bankruptcy High Court allowed an application for relief by trustees in the bankruptcy of DD, who had made his living from residential and commercial property and was indebted to around the sum of 2.8m. The court held that money in certain accounts belonged to DD, that a flat which had been purchased out of money from one of the accounts was a bankruptcy asset, and that the transfer of shares in a company controlled by DD had been a sham.
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