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Capita Trustees Ltd, RS, NS, the Trustees in Bankruptcy of RS - in the matter of the Dunlop Settlement [2013] JRC 029
2013-03-28

 

Case Summary

The case of Capita Trustees Ltd, RS, NS, The Trustees in Bankruptcy of RS - In the matter of the Dunlop Settlement [2013] JRC 029 concerns an application by Capita Trustees Limited (Capita) in its capacity as trustee of the Dunlop Settlement (the Trust) for approval to it entering into an agreement intended to settle various claims made against the Trust by creditors (the Agreement), the net effect of which would be to exhaust the assets of the Trust.

The Facts

Filed under:
Jersey, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Ogier, Bankruptcy, Discretionary trust, Trustee
Location:
Jersey
Firm:
Ogier
View Original Article
Trust companies in liquidation - dealing with priority debts
2016-07-12

The decision in In the matter of Independent Contractor Services (Aust) could mean more reliance upon fair entitlements guarantee funding provided by the Commonwealth in relation to the liquidation of trading trusts.

Filed under:
Australia, New South Wales, Insolvency & Restructuring, Litigation, Clayton Utz, Costs in English law, Audit, Beneficiary, Debt, Withholding tax, Liquidation, Liquidator (law), Discretionary trust, Corporations Act 2001 (Australia), Australian Taxation Office, New South Wales Supreme Court , Trustee
Authors:
Mikhail Glavac , Orla McCoy
Location:
Australia
Firm:
Clayton Utz
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Insolvent transactions with shareholders set aside
2017-12-12

Jollands v Gull concerns an application by the liquidators of a company to set aside insolvent transactions. The transactions involved funds from the sale of the company's business being paid, via the company's accountant, to three minority shareholders, which then transferred their shares to the respondent shareholders (or in one case, a respondent shareholder's family trust). The respondents' current accounts were in credit at the time.

Filed under:
New Zealand, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay, Shareholder, Liquidation, Discretionary trust
Authors:
Bridie McKinnon , Oliver Gascoigne , Matthew Triggs , Myles O'Brien , Susan Rowe , Peter Niven , David Perry , Scott Abel , Kelly Paterson , Scott Barker , Willie Palmer , Jan Etwell , David Broadmore
Location:
New Zealand
Firm:
Buddle Findlay
View Original Article
Insolvent gifts to trustees
2017-06-29

In Official Assignee v Carrim the High Court considered the concept of a "gift" in the Insolvency Act 2006.

The Official Assignee sought to cancel insolvent gifts made by the bankrupt to complete a property purchase by a family trust settled by the bankrupt and Ms Carrim, the bankrupt's partner (as trustees).  The High Court considered:

Filed under:
New Zealand, Insolvency & Restructuring, Litigation, Buddle Findlay, Bankruptcy, Deed, Tax deduction, Discretionary trust, Trustee
Authors:
Bridie McKinnon , Matthew Triggs , Myles O'Brien , Kelly Paterson , Peter Niven , Scott Abel , Willie Palmer , David Broadmore , Susan Rowe , Scott Barker , David Perry , Jan Etwell
Location:
New Zealand
Firm:
Buddle Findlay
View Original Article
Does a bankrupt beneficiary’s effective control of a discretionary trust transform their interest into property?
2017-03-24

This week’s TGIF considers Fordyce v Ryan & Anor; Fordyce v Quinn & Anor [2016] QSC 307, where the Court considered whether a beneficiary’s interest in a discretionary trust amounted to ‘property’ for the purposes of the Bankruptcy Act 1966 (Cth).

BACKGROUND

Filed under:
Australia, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Bankruptcy, Shareholder, Interest, Beneficiary, Liquidation, Vesting, Discretionary trust, Bénéfice, Federal Court of Australia, Trustee
Authors:
David Abernethy , Kirsty Sutherland , Mark Wilks , Matthew Critchley , Sam Delaney , Estelle Blewett , Michelle Dean , Haley Aprile
Location:
Australia
Firm:
Corrs Chambers Westgarth
View Original Article

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