Bankruptcy BCR Advisory

Does a bankrupt beneficiary’s effective control of a discretionary trust transform their interest into property?

This article was sourced from Lexology. Article by Corrs Chambers Westgarth. This week’s TGIF considers Fordyce v Ryan & Anor; Fordyce v Quinn & Anor [2016] QSC 307, where the Court considered whether a beneficiary’s interest in a discretionary trust amounted to ‘property’ for the purposes of the Bankruptcy Act 1966 (Cth). BACKGROUND The case centred around […]