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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 8968
Experience:  I have been practising for 30 years.
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A bankrupy has to declare an interest in his wife property?

Resolved Question:

a bankrupy has to declare an interest in his wife property?
Submitted: 10 months ago.
Category: Law
Expert:  F E Smith replied 10 months ago.
Can you explain your situation a little more please? Thank you.
Customer: replied 10 months ago.
Hi a crook sued me in the high court and then after running up costs from his fraudulent claim walked away declared himself bankrupt and left my family with a massive bill. My question is as his wife had at least one property in London should his interest been declared in his bankruptcy?
Customer: replied 10 months ago.
has this been picked up as I can not see the reply
Expert:  F E Smith replied 10 months ago.
The bankrupt persons wife’s assets are nothing to do with the bankrupt and he would not have to declare those. If he had transferred a property to his wife at anything less than full value and had done so within the last 5 years then that transfer could be set aside by the trustee in bankruptcy as though it had never happened. That facility exists to stop people transferring property to a spouse or partner and then deliberately going bankrupt to avoid paying creditors.It is too late now but if you suspected that he was going to make himself bankrupt to avoid paying your legal costs if his claim was not successful, you could have asked the court to make him provide “security for costs” which makes him either give some security to the court or pay money into court if you can convince the court that he does not have sufficient assets to support any litigation in the event that he fails.I know it’s not the answer you wanted but can I clarify anything else for you?Please don’t forget to rate the service positive. It’s an important part of the process by which experts get credit.Best wishesFES
Customer: replied 10 months ago.
Hi this bankrupt caused me a lot of losses and I am trying desperately to find some recourse against him. when he went bankrupt the official receiver could not find any assets in his name. specifically targeting the family home which was owned pre and post his marriage / bankruptcy how could it be the case that without any assets of his own he would not have a claim to part of the equity in the family home. looking from a different angle if he now got divorced could he not claim to own 50pc of the family home?pls advise
Customer: replied 10 months ago.
the property has always been in the wifes name
Expert:  F E Smith replied 10 months ago.
A non owning spouse has a claim against the matrimonial home which would be placed as a Matrimonial Home Right notice. However, that is only a claim within the marriage. He does not have to exercise the right if he does not wish to do so and the house can remain fully in his wife’s name.However, if the trustee in bankruptcy can establish that the bankrupt had a beneficial interest in the property based upon direct or indirect contributions to the purchase price by him, the trustee in bankruptcy may have a claim. However, that wouldn’t do you any good because any money recovered by the trustee would be simply divided between creditors and to go towards paying the trustee’s fees.As far as any money owed to you goes, you are now simply an unsecured creditor along with all the others and any indebtedness to you cannot be dealt with individually.
Customer: replied 10 months ago.
Hi as he has been discharged can this case be reopened?
Expert:  F E Smith replied 10 months ago.
Once he has gone bankrupt, then debts existing before the bankruptcy are wiped out. It is not possible to reopen those otherwise there would be no point in going bankrupt in the first place
Customer: replied 10 months ago.
question does remain should he have declared an interest in the property
Customer: replied 10 months ago.
7 july remains unanswered
Customer: replied 10 months ago.
5th may
Expert:  F E Smith replied 10 months ago.
The trustee cannot do anything if a property is in his wife’s sole name and the bankrupt doesn’t have to declare thatPlease rate positive, thanks
Expert:  F E Smith replied 10 months ago.
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mso-hansi-theme-font:minor-latin;}The trustee cannot do anything if a property is in his wife’s sole name and the bankrupt doesn’t have to declare that
Expert:  F E Smith replied 10 months ago.
The trustee cannot do anything if a property is in his wife’s sole name and the bankrupt doesn’t have to declare that
F E Smith, Advocate
Category: Law
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Experience: I have been practising for 30 years.
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