Hi
With a bankruptcy hearing imminent, I’d like to put the following case study for advice please:
A sole trader is to be made bankrupt and jointly owns a home on a 75/25% Tenants in Common share with their partner, their 25% share being the beneficial interest relevant to the bankruptcy which is at risk.
Their partner runs a limited company from the home (an office and outside store), with no rent etc charged.
If the bankruptcy is filed, is there anything that can be done by the partner using their limited company to reduce the 25% beneficial interest at risk?
Many thanks in advance.