The claim by the man’s receiver in bankruptcy that the arrangements under which the wife retained the family home constituted a ‘transfer at an undervalue’ was not accepted by the Court. The decision will be welcomed by those who are divorced and whose ex-spouses have become insolvent. Had the receiver’s argument carried the day, the ex-spouse of a bankrupt would not have known for certain that assets derived from the financial settlement would be safe from a future claim
However, the relief may be short lived. An appeal to the House of Lords is said to be likely.
Partner Note
Hill and another v Haines, COA 5 December 2007.
http://business.timesonline.co.uk/tol/business/law/reports/article3036889.ece
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