On the perils of accepting gifts.

A daughter got married at the Ritz-Carlton. The wedding cost S$135,292.20. Her father, a wealthy businessman, gave her S$100,000 towards the wedding. She said that she had held a grand wedding banquet out of filial piety, and her father offered to and paid for a substantial portion of the wedding banquet costs.

So far so good. But the father was adjudged bankrupt less than 2 years later. A private trustee was appointed, and wanted the daughter to repay the S$100,000. Under the law, when a person has been made bankrupt, the Court can reverse gifts made within the last 5 years.

The daughter likely had no way of knowing that her father would, 2 years later, be made bankrupt. Yet the Court ordered the daughter to repay the S$100,000. In particular:
(a) the daughter did not adduce any evidence to support her claim that she did not have the means to return this sum;
(b) it appeared that the daughter had the financial means to pay for the wedding even without the S$100,000 gift; and
(c) the daughter had received ang paos amounting to approximately S$50,000.

Such are the vicissitudes of life. Think twice before accepting large gifts - even from your parents!