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Senior Partner
Senior Partner, Solicitor
Category: Law
Satisfied Customers: 13329
Experience:  Solicitor with more than 30 years experience
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can you give me advice on the following . I went though

Customer Question

can you give me advice on the following .

I went though a divorce in 2012 and had shares in a company witch I sold to my mother in 2012 for a agreed share value of £7500 a to help to pay towards household bills and pay mortgage etc. .
April 2013 I declared my self bankrupt after losing contacts now the insolvency practitioner is trying to get me to sign over the shears but the stock transfer is in my mothers name what is my legal position thanks Jeff
Submitted: 4 years ago.
Category: Law
Expert:  Senior Partner replied 4 years ago.
Hi. Were you solvent at the time of the transfer ? IE could pay all your liabilities? What were the shares really worth at the time?
Customer: replied 4 years ago.
I was still trading 10 months after the transfer
Be four declaring myself bankrupt

The fair shere value was reached by the company
Expert:  Senior Partner replied 4 years ago.
Thanks. The issue here is that a transaction with a close relative like you mother can be set aside if it was not at full value. If you can show it was full blue then your trustee in bankruptcy cannot renounce the transaction unless he is prepared to repay the £7000. If you have demonstrated the transfer has taken place of full value that should be the end of it.