“…within the meaning of the Conveyancing Act 1919 (NSW), s37A and the Bankruptcy Act 1966 (Cth), s 121: see, for example, Ex parte Russell; Re Butterworth (1882) 19 Ch D 588, particularly in the judgment of Lord Jessel MR, who said: ‘The principle is that a man is not entitled to go into a hazardous business, and immediately before…”
“…nt created as part of the preparations for embarking on a risky business venture: Mackay v Douglas (1872) LR 14 Eq 106; Ex p. Russell. In re Butterworth (1882) 19 Ch D 588. As Jessel MR put it in the latter case:…”