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United Kingdom section 127 dispositionsforeign assetslex situs

Akers v Samba Financial Group

[2017] UKSC 6
JurisdictionUnited Kingdom
CourtSupreme Court of the United Kingdom
Year2017
StatusBinding authority

Key Principle

The disposition of a bare trust interest by transferring the legal title to a third party is a 'disposition' for the purposes of s.127 of the Insolvency Act 1986; but where the third party holds in a foreign legal system that does not recognise the trust, the beneficial interest may be extinguished.

Area of Law

trusts

Related Cases

Test Claimants in the FII Group Litigation v HMRC (No 2) [2020] UKSC 47
Children's Investment Fund Foundation v Attorney General [2020] UKSC 33
Investment Trust Companies v Revenue and Customs Commissioners [2017] UKSC 29

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