Personal insolvency

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Personal insolvency guidance:

Bankruptcy estate Under section 306(1) of the Insolvency Act 1986 (IA 1986), the bankrupt’s estate vests in the trustee in bankruptcy (trustee) immediately on their...

Practice Note

This Practice Note looks at the annulment of bankruptcy orders under section 282 of the Insolvency Act 1986 (IA 1986) and the grounds upon which an annulment application...

Practice Note

In certain cases, a bankrupt’s automatic discharge from bankruptcy is suspended by an order of the court. This Practice Note sets out briefly how the bankrupt can apply...

Practice Note

This Practice Note explains when a general assignment of book debts by a bankrupt prior to their bankruptcy is invalid. See also Practice Note: Unenforceability of liens...

Practice Note

Before the hearing of the creditors' bankruptcy petition takes place, there are a number of steps that must be taken to comply with the procedural requirements set out in...

Practice Note

A bankrupt is discharged from bankruptcy one year after their bankruptcy commences, unless the court grants a suspension of that discharge by reason of a bankrupt's...

Practice Note

A bankrupt is discharged from bankruptcy one year after their bankruptcy commences, unless the court grants a suspension of that discharge by reason of a bankrupt's...

Practice Note

It is not uncommon for bankruptcy and divorce proceedings to run concurrently, or for one set of proceedings to impact on the other. For further reading on the effect...

Practice Note

Grounds to challenge an individual voluntary arrangement An application can be made to challenge the approval of an individual voluntary arrangement (IVA) on one or both...

Practice Note

Note This table provides a summary of individual personal and debt management processes from a dispute resolution perspective. Name of processNature of processEffect on...

Practice Note

In any insolvency situation, there are a number of parties are involved that require legal advice and, in certain circumstances, parties with common interests may choose...

Practice Note

Bankruptcy in England and Wales is a process by which the court or the bankruptcy adjudicator adjudicates an individual bankrupt by making a bankruptcy order. While a...

Practice Note

Creditors’ decision procedure General It is the creditors who decided whether, and if so to what extent, the individual or corporate debtor’s proposal should be accepted....

Practice Note

Introduction Part 5 of the Tribunals, Courts and Enforcement Act 2007 (TCEA 2007) introduced new regimes for debt management and relief, although not all of them have...

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

At the heart of the bankruptcy legislation is the concept of a bankrupt surrendering their estate for the benefit of creditors in return for protection from...

Practice Note