||All England Reporter
|| All ER (D) 91 (Jan)
|| EWHC 48 (Ch)
||Cameron Maxwell Lewis (instructed under the Direct Access Scheme) for G.
|| Graham Sellers (instructed by Freeths LLP) for the trustees.
||18 January 2018
Bankruptcy - Transaction at undervalue - Appeal against order declaring transfer of bankrupt husband's beneficial interest in properties to wife as transaction at an undervalue
Bankruptcy Transaction at undervalue. A district judge had correctly held, in favour of the trustees in bankruptcy of the husband, that a transfer of his beneficial ownership or interest in two residential properties to his wife amounted to a transaction at an undervalue, within the meaning of s339 of the . The Chancery Division, in dismissing the wife's appeal against the district judge's order, held, among other things, that the reassurance she had given to the husband that he could continue to see her and his son on regular occasions had not amounted to valuable consideration, because no right to it had been conferred. Further, there were no exceptional circumstances to justify the sale of the properties being postponed or stayed.
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