The Insolvency (England and Wales) Rules 2016

Disposal of assets

1.  Where in the five years preceding the date on which the bankruptcy application is made the debtor has entered into a transaction at an undervalue within the meaning of section 339(1), given a preference within the meaning of section 340(2), has rights or excluded rights under section 342A(3) of the Act or placed an asset into a trust for the benefit of any person, including the surrender of life, endowment and pension policies, in respect of each asset—

(a) description of the asset;

(b) date the debtor gave away, transferred or sold the asset;

(c) consideration given, if any;

(d) name and address of the person to whom the debtor sold, transferred or gave away the asset;

(e) relationship of that person to the debtor;

(f) if relevant, name of the trustees and beneficiaries or class of beneficiaries;

(g) estimated market value of the asset at the date of the bankruptcy application;

(h) net proceeds (if any) (less any charges and legal fees).

2.  Where in the five years preceding the date on which the bankruptcy application is made the debtor has disposed of or sold any property at market value or disposed of, sold at market value or realised any life, endowment and pension policies in respect of each asset—

(a) description of the asset;

(b) date the debtor disposed of, sold at market value or realised the asset; and

(c) net proceeds (if any) (less any charges and legal fees).