Asset transfer by way of gifts to family members to evade creditors
has been reviewed a number of times by the Law Reform Commission. Charles Lysaght is unhappy that the recommendations have not been accepted and implemented.
In the course of a long article he:
- States the current position of such gifts
- Differentiates between gifts to a spouse and gifts to other family members and he regards such gifts “a less outright disposal than gifts to others”
- Sets out his personal view “that property deriving from gifts made by debtors should be available to meet that person’s debts unless the person who received the gift could establish that this would be unfair.”
For the full article press here