Where funds are advanced by one company to another for the purchase of property, the asset protection purpose of placing the property in a 'clean' company is inconsistent with the funding company retaining a beneficial interest, and a general plan to restructure ownership 'to be worked out later' does not establish the certainty of beneficiary required for a trust.
The full text is available to signed-in members, including the 9 later cases that cite this judgment.
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