Personal insolvency

Personal insolvency guidance:

STOP PRESS: Since 25 April 2017, it has been mandatory to use electronic filing (e-filing) in all jurisdictions of the Rolls Building, which includes the Insolvency and...

Practice Note

When a bankruptcy order is made, a bankrupt’s property normally automatically vests in the Official Receiver/trustee in bankruptcy. However, property owned by the...

Practice Note

Equity of exoneration Where the property of a spouse is charged in order to raise money for the payment of the first spouse’s debts or otherwise for his or her benefit,...

Practice Note

When an individual is adjudicated bankrupt, his property (with the exception of an interest in various short-term residential tenancies in certain circumstances) vests in...

Practice Note

Land Charges searches are not required for dealings with registered land, but if you are acting for a lender in connection with a charge over an interest in property,...

Practice Note

Eligibility Part VI of the County Courts Act 1984 (CCA 1984) introduces a new form of administration procedure for debtors who do not have any business debts and whose...

Practice Note

What is a DRO? DROs are 'a new and simplified way of wiping the slate clean for debtors who are too poor to go bankrupt.' A DRO is made in respect of qualifying debts. A...

Practice Note

What happens when a debtor dies? A person may die insolvent. Their estate will be insolvent where its value is insufficient to meet all the debts and liabilities in full....

Practice Note

Escheat Paramount lordship of the Crown The principle which underlies the doctrine of escheat is a remnant of the feudal system of land tenure. Under that system, all...

Practice Note

Duration of an individual voluntary arrangement An individual voluntary arrangement (IVA) is an agreement entered into between an individual and their creditors under the...

Practice Note

What are business rates? Business rates are a tax on property used for business purposes. They are charged on most non-domestic properties, such as shops, offices and...

Practice Note

When a company or an individual enters into a formal insolvency or enforcement process, the goal posts shift considerably for creditors wishing to bring, or continue...

Practice Note

In addition to the better-known company voluntary arrangements (CVAs) and individual voluntary arrangements (IVAs), the insolvency legislation permits insolvent general...

Practice Note

This Practice Note looks at what a statutory demand is and what it seeks to achieve in both corporate and personal insolvency. It assumes that the debtor is based in...

Practice Note