Jeremy Twigg QC and Scott Morris have successfully brought an action on behalf of a trustee in bankruptcy seeking to set aside a disposition of property by a husband to his wife in 2004.
The husband was not insolvent at the time that he transferred the property to his wife, but the Court found that the “husband’s main purpose in making the transfer was to prevent the transferred property from becoming divisible among his creditors should there ultimately be any” [166] and that the transfer was caught by section 121 of the Bankruptcy Act 1966.
See: Turner in his capacity as Trustee of the Bankrupt Estate of Wallace v Wallace [2016] FCCA 963.