May 1st, 2008 by Questions
In the case of bankruptcy of an individual are transactions of the last 5 years examined for fraudulent conveyance?
In my case I`am filing for bankruptcy over a 200K debt. I own 30% of an incorporated business which I effectively control through my spouse`s 30% shareholding. There was a lot of transactions involving transfer of cash/property between myself and the corporation in 2004/2005/2006. Will all these transactions be examined? If so how will my net worth at the time of the transactions be determined?
Will the corporation be asked to explain all it`s transactions in the abovementioned period?