A modern illustration of the equity of exoneration and its limits

Jamie Kennaugh, Charlotte Posnansky, Hanh Nguyen and Francesca Heath-Clarke of Charles Russell Speechlys examine Armstrong v Harrow, where the High Court rejected a wife’s claim to keep the full proceeds of the former matrimonial home under the equity of exoneration, finding she had benefited as a director and shareholder of the borrowing company, and further voided a Deed of Trust as a transaction at undervalue and preference—illustrating the rigorous scrutiny insolvency courts apply to marital property arrangements.

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