Quindell's buyers sue to reclaim every penny spent, page-41

You can certainly argue that its not ethical, but it doesn't come down to that unfortunately.

If the company was solvent at the time it paid the dividend (and paying such a dividend doesn't make it insolvent), I haven't ever heard of the ability to claw a dividend back... Wouldn't be the first company to be convicted of fraud after paying dividends I'm sure.

Now if somebody can provide information that says otherwise, it could bring about some quality discussion on this forum for once. I'm more than happy to be wrong.

PS: Addressing your comment directly, how often do you see a director purchase a property in the Wife's name or a seperate entity indemnifying the asset completely... Happens a lot.