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