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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

12 JUL 2013

Miller v (1) Gallo (2) Pastore

(Chancery Division, Mann J, 13 June 2013)

P and G were co-owners of a leasehold property. A bankruptcy order was made against G, and his trustee in bankruptcy negotiated for the sale of G's interest in the property to P. A second bankruptcy order was made against G and M was appointed as his trustee in bankruptcy. M asserted that G might still have had an interest in the property pursuant to the previous dealings with the first trustee, and so registered a restriction against it. The adjudicator cancelled the restriction, on the basis that, construing the previous transaction, G had no such interest that could be protected. Mann J dismissed M's appeal. Construing the correspondence, neither G nor the first trustee had retained any interest as a constructive trust of the beneficial interest had been created in P's favour.

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