Fraudulent conveyance

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?


One Response to “Fraudulent conveyance”

, A licensed trustee said:

I strongly suggest you contact an insolvency lawyer with your questions. You have obviously done some homework as “fraudulent conveyances” is not a topic that comes up in casual conversation.

You may try speaking to a trustee, but a trustee cannot give you a legal opinion of whether or not you have committed a fraudulent conveyance – for that you need to speak to a lawyer.

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