Where it appears that a debt is not disputed on substantial grounds it may be more cost effective to present a bankruptcy petition against the debtor.

On the making of a bankruptcy order the debtor’s assets will vest in the Official Receiver or a Trustee in Bankruptcy, who will realise them and distribute the proceeds among the creditors, according to the amount of the debts they are owed.

We work closely with the Official Receiver’s office and Insolvency Practitioners appointed as trustees in bankruptcy in the complex issues which may arise from the making of the order and the realisation of the assets.

We also act for debtors who are threatened with bankruptcy proceedings in applications to set aside statutory demands, defending petitions or annulment of orders.

Debtors may also consider approaching their creditors with a view to entering into an Individual Voluntary Arrangement.