Insolvency

Since an applicant for ancillary relief under ss 23 to 25 of the Matrimonial Causes Act 1973 does not give consideration in “money or money’s worth” within the meaning of s 339(3)(c) IA 1986 for relief obtained, any transfer of property made by a bankrupt ex-spouse pursuant to either a court order made in the ancillary proceedings, or a settlement agreement, is a transaction at an undervalue and so may be set aside on application by the trustees in bankruptcy.