Lewis and another v Metropolitan Property Realisations Ltd [2009] EWCA Civ 448; [2009] WLR (D) 189

“The word ‘realise’ in the context of s 283A(3)(a) of the Insolvency Act 1986 was not, in its context, capable of covering a transaction where there was deferred monetary consideration during the period before that consideration came in, so that a bankrupt’s interest in property that had formerly vested jointly in him and his wife revested in him on the third anniversary of his bankruptcy despite his trustee in bankruptcy having assigned that interest to a creditor by way of an agreement for consideration of £1 and 25% of any eventual sale of the interest.”

WLR Daily, 17th June 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.