Taylor v Savik

Successfully resisted, after a five-day trial before HHJ Paul Matthews, a trustee in bankruptcy’s application for a declaration that a property legally and beneficially owned by the first respondent was beneficially owned by the bankrupt under a sham arrangement. At the outset of trial, obtained a stay of the trustee’s claims under sections 339 and 423 of the Insolvency Act 1986, in the first reported case on the interplay between those sections and section 419 of the Proceeds of Crime Act 2002. Following trial, obtained indemnity costs, pre-judgment interest on costs and a substantial payment on account.