Hi hope someone can help me, I have recently been made bankrupt and I owed my x partner money
So he took the car as payment now they have sent a letter to my x partner requesting the full value of the car and have passed his details to a law firm acting on behalf of the official receiver. my x partner sent a letter stating that I owed him money but did not state how much I owed now they have responded saying he is a beneficiary and the car was transferred at a under value and with nil consideration under section 339 insolvency act and have given him 14 days to respond. he has stated in a letter that it was not a under value and she owed him the full value of the car. Can they repossess the car and take further action under section 339 of the insolvency act?
If he does not give the car back he could be made bankrupt himself. Effectively he has been 'preferred' over other creditors as he has received payment for his debt whether everyone gets nothing.
He could speak to a solicitor but it sounds cut and dried to me and he must hand over the vehicle.