We work with you to resolve disputes
We understand contentious matters can be stressful for both parties and will provide in-house support at each stage.
Experts in alternative dispute resolution
Alternative dispute resolution is beneficial to both parties and also prevents unnecessary court cases.
When it escalates we take action
We are established in representing at the County Court, the High Court, the Commercial Court and the Court of Appeal.
Bankruptcy Petition
Duncan Lewis Litigation Solicitors – Bankruptcy petition
A bankruptcy petition can be filed at court by both an individual seeking bankruptcy – or a creditor who is owed money and wishes to apply to court because they have not been paid.
Under the laws of England and Wales, anyone who owes more than £5,000 and is unable to pay their debt can file for bankruptcy at the court. Those who live in London or who owe more than £100,000 must file the petition at the High Court.
Bankruptcy is governed by the Insolvency Act and the process can be extremely complex:
- The bankruptcy petition has to be presented correctly and according to the law, or it will be dismissed.
- A hearing needs to be scheduled – and sometimes an appointment with the court to file the petition is necessary if the courts are busy.
- Court fees also have to be paid for filing a petition, although those in receipt of certain welfare benefits might be exempt from some fees.
- The official receiver will arrange a meeting with the debtor and it will be necessary to provide full details of financial affairs.
- Even if a debtor has assets, such as a property, bankruptcy can still be complicated – and may affect the sale of the property, for example. The court may also decide to stall any ongoing legal procedures once a bankruptcy petition has been presented to the court.
It is important to take legal advice as soon as possible if filing for bankruptcy or a petition for bankruptcy has been filed against you.
Duncan Lewis bankruptcy solicitors can act swiftly to protect a client’s interests – and may be able to offer a solution to bankruptcy, such as Individual Voluntary Arrangement (IVA).
In cases where a petition for bankruptcy has been filed by a creditor, Duncan Lewis can also advise on defending the bankruptcy petition.
Duncan Lewis bankruptcy solicitors can also advise on bankruptcy restrictions which will apply and how these will affect a client – as well as advising on cancelling a bankruptcy (bankruptcy annulment orders).
For expert legal advice on Bankruptcy, call Duncan Lewis Financial Litigation Solicitors in confidence on 0333 772 0409.