Jul 12 2017, 03:06 PM
QUOTE(Abam_Beruang @ Mar 31 2017, 02:31 PM)
General answer is no, husband bankrupt nothing to do with the wife.
BUT
If the husband fraudulently transfer assets to the wife before bankruptcy in order to avoid the creditors (2 years before the bankruptcy), then the transfer is void against the director general insolvency. Meaning, the assets which is now under wife's name, the insolvency ppl can seize it for sale to satisfy the debt.
What if the wife has already sold the asset to someone else properly (with lawyer and black white agreement such). Will the asset (now belong to third party) be seized? Or the profit under the wife name will be seized?BUT
If the husband fraudulently transfer assets to the wife before bankruptcy in order to avoid the creditors (2 years before the bankruptcy), then the transfer is void against the director general insolvency. Meaning, the assets which is now under wife's name, the insolvency ppl can seize it for sale to satisfy the debt.
What if instead of transfer, sell asset real cheap to friend or relative. Like sell a 500k market house only 10k to friend, and 60k car only 5k to brother. Will it still be seized.
Furthermore, if the asset was sold again to somebody else.
Generally, how can I avoid creditor from bankruptcy?
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