Bankruptcy and Divorce
There was an interesting Court of Appeal case recently, a woman had her divorce settlement cut when her former husband went bankrupt. The divorcee had been awarded the proceeds of the sale of the matrimonial home by a judge in December 2004. But her former husband declared himself bankrupt a year later and the High Court ruled that the transfer was void. In other words, she no longer had the proceeds of the sale of the home. However, the Court of Appeal reversed that ruling, and returned the former husband’s share of the proceeds sale of to his ex-wife. Subsequent bankruptcy cannot therefore invalidate a divorce settlement.
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