The appellant, a judgment creditor, appealed the dismissal of its application seeking a declaration of fraudulent conveyance and damages for unlawful conduct conspiracy against the respondents.
The appellant alleged that the transfer of shares by the debtor to Capital Dentistry Group Limited was a fraudulent conveyance and part of an unlawful conspiracy.
The Court of Appeal upheld the application judge's finding that there was no fraudulent intent, noting that the transaction was initiated by an arm's length party, structured consistently with past deals, and occurred as part of a larger acquisition.
As fraudulent intent was not established, the essential element of unlawful conduct for the conspiracy claim failed.
The appeal was dismissed, and costs were awarded to the respondents.
