The Weekly Law Reports
[2008] 2 WLR 283
Chancery Division
Singla v Brown and another
[2007] EWHC 405 (Ch)
2007 Feb 6,
7;
March 2
March 2
Thomas Ivory QC sitting as a deputy High Court judge
Bankruptcy— Transaction at undervalue— Application to set aside— Property purchased by second defendant but held by her and first defendant as joint tenants— Intention that first defendant have only nominal interest in property— First defendant making no contribution to purchase— First defendant signing receipt of notice of severance served by second defendant accepting he held 1% of beneficial interest in property as tenant in common— First defendant made bankrupt— Trustee in bankruptcy applying for order to set aside transfer as transaction at undervalue— Whether service of notice of severance and execution of receipt constituting transaction at undervalue— Whether court having discretion to make no order notwithstanding fact that transaction at undervalue—
Insolvency Act 1986 (c 45), s 339