Cass (Trustee in Bankruptcy) v. Karpnale? (Matthew Scully, 15 Dec 2000)

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Sender:	Matthew Scully
Date:	Fri, 15 Dec 2000 17:34:50
Re:	Cass (Trustee in Bankruptcy) v. Karpnale?

Presumably a casino will not be registered as a charity for tax purposes. A gift on the other hand is a disposition of property other than for valuable consideration. If I place a bet, pay money to the casino and get no right to sue for recovery of my winnings if I choose the right numbers on the roulette, I have given away my money for nothing (legally enforceable) in return. Hence a gift.

-----Original Message-----
From: Allan Axelrod
Sent: 15 December 2000 17:01
Subject: Re: [RDG:] Cass (Trustee in Bankruptcy) v. Karpnale?

Lionel Smith wrote:

Here is a question for anyone interested, especially insolvency buffs.

In Lipkin Gorman v. Karpnale (let's say it all together: [1991] 2 AC 548) the rogue Cass misappropriated money of the plaintiff and gambled it away at the casino operated by the defendant. One crucial element in the plaintiff's success was that under English gaming law, the gambling transactions were treated as executed gifts so that the defendant could not claim to be a good faith purchaser for value.

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under a US statute called something like the 'religious liberty' act, good-faith charitable gifts by an insolvent are not avoidable

a court able to describe a loss to a casino as a 'gift' should have little trouble recognizing a casino as a 'charity'

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