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Max Lowry
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Experience:  LLB, 10 years post qualification experience
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If you make a gift of assets and then get a ccj against you

Resolved Question:

If you make a gift of assets and then get a ccj against you can the gift be reversed and if so how long before the ccj would be looked at
Submitted: 2 years ago.
Category: Law
Expert:  Max Lowry replied 2 years ago.
Hi, welcome to the site. My name is ***** ***** I will help you with your question. Just a couple of questions first please:- is your question relating to UK law? What kind of asset are you thinking of gifting? How much is the ccj for?
Customer: replied 2 years ago.
Hi Max,
Background:
A European bank is owed around £250,000 for an unpaid mortgage on a property abroad. The bank MAY get a judgement in their country and then get a European Enforcement Order to get a high court judgement in the UK
If this is done and a judgement is successful sheriffs could then enforce it. However there are no assets, savings, house etc.
Question:
If they got another court order to question the person about their assets they may ask if anything has been gifted. My question is what is the time period where you have to declare/disclose any gifts?
For example, if the question was "have you given away or gifted any money or assets in the last 2 years" and you had gifted someone £100k 2 years and 1 day before you could answer 'no'
Expert:  Max Lowry replied 2 years ago.
I understand, thanks. You are quite right. The way the question being phrased is put to you is very important. With your example question you would not be caught out i.e. being dishonest or not telling the truth under oath, which is what you would be required to do under questioning at Court. The answer you would give is "no" because the transfer took place after the two years not within the "last" 2 years.
Most likely you will not be asked if you had transferred/gifted assets over 5 years ago. The reason for this is that with a ccj against you, if it's not paid you could be made bankrupt. In bankruptcy, the trustee in bankruptcy can look back 5 years from the date the bankruptcy petition was issued at court to see if you gifted assets or transferred them at an undervalue (not for market value). The Trustee has the power to ask a Court to reverse such transactions for example the person that received the gift could be ordered to pay it back to the trustee.
Please let me know if I can clarify anything else.
Customer: replied 2 years ago.
Hi Max,
Thanks for the answer but I'd like some clarification please. With a European Enforcement Order you CANNOT instruct bankruptcy. Therefore it would be a high court order and judgement (not a CCJ) - so if an 'order to obtain information' was successfully served and you are questioned about assets is there a specific time period that they can ask about (e.g. Last 2 years )
Expert:  Max Lowry replied 2 years ago.
As long as the EEO is registered correctly with the UK Courts it will be treated like a high court judgment. This means that the enforcement powers that are available if someone obtained a ccj are also available if someone has an EEO in the UK. The only difference with an EEO is that it would have been granted where the debt was uncontested.
Service and enforcement of the high court judgment against the debtor will take place according to the national rules of that Member State. In this case the member state is the UK which means all enforcement options including bankruptcy will be available to the creditor. In the UK, for questioning purposes the debtor would be asked to disclose all and any assets gifted or transferred, whether owned solely or jointly with another within 5 years. The creditor would then need to consider whether it needs to take further steps to get those assets back. Within the UK to get those assets back/for the transaction to be challenged the debtor would need to be made bankrupt. It will need to be a worthwhile and commercial exercise for the creditor because it is not cheap. You say that the debt owed to the creditor is about £250k. This is a lot of money so the creditor may decide its worthwhile to seek to ask whether you have transferred assets within the last 5 years.
Max Lowry, Advocate
Category: Law
Satisfied Customers: 1457
Experience: LLB, 10 years post qualification experience
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