Re Fowlds [2020] EWHC 1200 (Ch) (ICC Judge Jones)

Publication Date:
16 Jun 2020


The court considered whether a recipient may rely upon a change of position defence to retain what would otherwise be a recoverable preference payment. Whilst formally holding that a change of position defence was not available, the court did in substance apply a slightly narrower version of the defence when exercising its discretion to make no order for recovery. Courts and Trustees faced with similar circumstances in future may see the “limited change of position refusal” or “exceptional hardship refusal” being applied to deny recovery. 


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