Yeah I wondered about this, the lawyer who offered to do one for me said they would liaise with the banks on my behalf, but that would be an extra...
So even if it was a related party, the way that the clawback would work is that the gift would be deemed clawback-able, and therefore the mortgage...
Thanks Terry. This is worth asking about. As the defendant's assets are illiquid, anything to make it more difficult for them to sell would be useful.
Hi all I have a civil action in progress. The defendant has property assets that are sufficient to pay the claim. I believe they will consider...
This is very useful tip thank you Terry. Given that it is an internal transaction, I've heard lawyers say that the equity gift may be achieved...
Yes that makes sense. If the insolvent trading occurred prior to this 6 month amnesty, and the action against the director proceeds now, do you...
Ahh yep of course, that makes sense. There would have to be some associated gifting to reduce assets.
These courses are not worth it, particularly in 2020 with the free resources and communities available. They make it sound like they have a magic...
I haven't heard of this before, what would the caveatable interest in the properties be for the new trust? Is it like a gift and loan back scenario?
The thing that confuses me about gift and loan backs is that if the gift is clawback-able in the event of bankruptcy, why would anyone bother with...
Great info Terry do you know if this is retrospective, ie if the insolvent trading occurred in 2019, and the liquidation was underway, and the...
Interesting could you clarify this, I would have thought that increasing liabilities to reduce available assets would be one strategy to protect...
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