Jurisdiction(s):
United Kingdom

No sham; IA 1986 ss 339/423 stayed given POCA 2002 s 419 - document access and CPR 32.19 in Taylor v Savik (Bristol County Court, 2024, England and Wales)

Published on: 27 September 2024

Published by a LexisNexis Restructuring & Insolvency expert

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Article summary

What are the practical implications of this case?

The decision, though from the County Court at first instance, carries real procedural weight because of issues arising at the junction and interplay of the Insolvency Act 1986 and Proceeds of Crime Act 2002 proceedings. Alongside the issue of whether claims under IA 1986, ss 339 and 423 can proceed in the face of POCA 2002, s 419—a matter of clear interest to practitioners—the court also tackled difficult questions about access to documents within POCA 2002 proceedings. Declining to accept the trustee’s position, His Honour Judge Matthews observed that it was ‘scarcely fair’ that such documents were not freely and openly available in those proceedings. The judgment also charts the origins of the law on sham, what the concept entails, and, crucially, whether a finding of sham necessarily carries a finding of dishonesty. It records thought‑provoking comments on what practitioners might regard as settled law concerning the doctrine of sham in Snook v London and Western Riding Investments Ltd [1967] 2 QB 786, and on whether determining that an arrangement is a sham brings with it a conclusion of dishonesty with reference to...

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