“…In doing so the judge failed correctly to consider Ensign Tankers in the House of Lords (and in the High Court [1989] 1 WLR 1222). Further, he failed to recognise that a multifactorial evaluation of the transaction (by reference to each of IRC v Livingston [1927] SC 251 at 255-256, the “…”
“…On appeal from the decision of the Commissioners (see [1989] 1 WLR 1222 at p.1232D to p.1234C), Millett J identified nine propositions of law relevant to the trading question. First, to constitute a transaction in the nature of tra…”