Guarantor asset transfer during insolvency resolution requires creditor approval and proceeds adjust against debt. Transfer of an asset of a personal guarantor or corporate guarantor, after a creditor has taken possession by enforcing security interest, may be permitted during the corporate insolvency resolution process subject to prior approval of the committee of creditors and specified conditions. If the corporate guarantor or personal guarantor is itself undergoing insolvency resolution or liquidation/bankruptcy, the relevant creditor approvals apply and the transfer proceeds form part of that process or liquidation estate. A transfer under a resolution plan vests all rights in the transferee, and the proceeds are adjusted towards the guarantor's debt after preservation and protection costs, with any surplus paid to the guarantor.