Mr. Biggs, a successful businessman, guaranteed the debts of his corporation, Textile Industries ("Textile"). This guarantee made him personally responsible when Textile ran into financial difficulties. Someone sued Mr. Biggs and Textile and won in court. Textile went out of business, and Mr. Biggs was forced to claim personal bankruptcy. Shortly before his bankruptcy, he transferred his interest in the matrimonial home to his wife and continued to live there with her. 

The Court reversed the transfer. Why?

Answer rating: 100% (QA)

The court likely reversed the transfer of Mr Biggs interest in the matrimonial home to his wife beca... View the full answer