Back to Insights listing

Trusts, probate and estates: contentious, InsolvencyWednesday 2 April 2025

Trustees and claims under section 423 of the Insolvency Act 1986: lessons from Invest Bank

Tiffany Scott KC has co-authored an article for Trusts & Trustees with Emma Hargreaves (Serle Court) entitled, “Trustees and claims under section 423 of the Insolvency Act 1986: lessons from Invest Bank”.

Abstract

In Invest Bank PSC v El-Husseini and others [2024] EWHC 2976 (Comm), the Claimant alleged that a property had been transferred to a trust with the purpose of prejudicing the Claimant as the settlor’s creditor. The property had been sold and the proceeds distributed to the beneficiaries, so the Claimant sought an order under ss.423-425 of the Insolvency Act 1986 that the trustee be personally liable to pay the value of the trust property to the Claimant. This note considers the judgment of the Commercial Court, which dismissed the claim, and issues for trustees faced with such claims.

Click here to read Tiffany and Emma’s article through your Oxford University Press (OUP) account or to register for access:

Read the article

People to view:

Share by: Email

Related Insights View all thought leadership

  1. Placeholder

    Articles

    Leaving a trust in limbo: Can a sole trustee resign?

    In Dawson-Damer v Grampian Trust Company the Privy Council reviews the law on settlor intentions and rejects a claim to set aside a trustee decision based on a Pitt v Holt/Hastings-Bass inadequate deliberation challenge.

    By Simon Atkinson
    Tuesday 30 September 2025

    View more
  2. Placeholder

    Events / Webinars

    Save the date – Trusts Litigation Day 2026

    Monday 19 January 2026 | 9am - 5.45 pm
    InterContinental Park Lane, London

    View more
  3. Placeholder

    External Conferences

    HNW Trusts in Divorce: The 3rd Annual Practitioner’s Forum

    Tuesday 10 February 2025
    Central London

    Speakers:
    Andrew Mold KC

    View more
  4. Placeholder

    Articles

    Dawson-Damer v Grampian Trust Company: Another challenge to trustee distribution decision in a family trust

    In Dawson-Damer v Grampian Trust Company the Privy Council reviews the law on settlor intentions and rejects a claim to set aside a trustee decision based on a Pitt v Holt/Hastings-Bass inadequate deliberation challenge.

    By David Pollard
    Monday 1 September 2025

    View more

View all thought leadership