Dave Harries (Communicate TV): One of things
that I think we often assume about divorce settlements of course is that there is a pot
of money there that is kind of available to be divided up, or assets what have you. Presumably
there must be cases where, for example bankruptcy, what happens then? Kate Butler: The difficulty when you are bankrupt
is a trustee will be appointed who will then effectively own all of your assets so you
are no longer in possession of any assets to be divided. If you are in the middle of
a divorce at that stage, then it can be a real problem because the Court doesn’t have
jurisdiction to get involved and make decisions in the way that they normally would do. This
is something where you really will need to have some specialist advice and it could cause
a real problem. Judith Buckland: If there is any possibility
of bankruptcy within divorce proceedings it is really important to see lawyers as quickly
as possible because there are some things that we can do in order to try and minimise
the damage of bankruptcy. I will be honest with you, it is difficult, but there are steps
that can be taken and it is important to discuss them with a lawyer.