Realizing that the financial health of his business was unlikely to recover from the increased competition in the market, Clive decided to transfer title to his marital home to his wife's name. Six months after the transfer, Clive was less concerned about the personal guarantee he had signed and was preparing to attempt informal negotiations with his creditors. What will be the most likely result?

Select one:

a.Fraudulent transfer is an act of bankruptcy, and creditors can petition for bankruptcy.

b.To avoid collection on the guarantee, Clive cannot default on any approved proposal.

c.The creditors will file a statement detailing what is owed and to whom.

d.Clive will have to create proposal that won't favour one creditor over another.