Ex husband may be made bankrupt

[callie72]

My ex husband and i divorced and financial settlement was sorted by the courts over 12mths ago. My ex husband owes in the region of 50k in debts the majority of which he gained after we divorced. Included in this debt is 9k to inland revenue. I'm not clued up on these matters but from what he has said if he is made bankrupt, to recoup some mony they can take into account the divorce settlement and apply to the courts for money I received in the settlement which I have put towards a house for myself and our 10yr old daughter. I'm now worried how i stand. Any help please!!!!!

[wen]

Hi Callie, cannot answer your question but I am sure one of our experts will be along shortly to help [:)]

[callie72]

thanks wen, think i posted in the wrong spot too. internet not my best work!!!

no problem Callie.. post moved [:)]
admin

[chris.g]

Hi Callie & welcome to the forum, sorry I can't help you either but someone will be along to answer your questions soon

[Reviva UK]

Hi callie

couple of questions. Has the divorce been finalised re the house and equity ? I assume the equity was passed accross in lieu of maintenance payments.

Ther was a case that went back to the High Court in Dec that the trustee in your husbands bankruptcy would be aware of.

A couple divorced and he signed over all his equity in final settlement of the mariage ( inc maintenance payments etc) 4 1/2 years later he becomes bankrupt and his trustee goes after the asset that he gave away siting @transaction under value". and wins the case ( i.e. she looses the equity.

However in dec 07 Mrs goes to high court to appeal and Judge finds in her favour. That was because any partner could decide to disadvantage an ex partner through a bankruptcy claim and the judge found this unfair.

On the reverse note if your ex has deliberately hidden assets to keep them away from the trustee ( these are prety complicated cases and they need to prove that it was a deliberate act) them they may have a case.

Hope it helps, but suggest you could do with someone in your corner.

That type of argument is right up Bretts street and perhaps a call into him would be helpful

[chris.g]

I heard of a case, sure the lady lived in Liverpool. Her ex had gone bankrupt within the 5yrs. Years later she is threatened with losing her home, somehow the creditors had claim on the house, not sure if the property was charged during bankruptcy or what....

Have a look....http://news.bbc.co.uk/player/nol/
newsid_6900000/newsid_6909300/6909370.stm?bw=bb&mp=wm&news=1&nol_storyid=6909370&bbcws=1

[MelanieGiles]

The case that Paul is referring to makes it pretty difficult for an insolvency court to overturn a decision made under matrimonial proceedings - whether one parties debts were taken into account or not.