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Successful Bankruptcy Recovery 2021

Nov 29, 2021 | Article

Successful Bankruptcy Recovery

In November 2021, we recovered substantial money for a trustee of a bankrupt estate.

The bankrupt had transferred a half share of a property to his partner for no money in return, just before he was made bankrupt. The trustee of the bankrupt estate had a right to the half share transferred.

While the usual court process would have been costly and cumbersome for our client, We suggested an effective statutory process designed to avoid court proceedings, which allowed the trustee to issue a notice and then register a charge on the title to the property. This meant the trustee had a right to sell the property if the claim to the value of the half share was not paid.

Not surprisingly, settlement negotiations followed, resulting in payment and a happy client.

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Please contact us if you are:

  • an Insolvency Practitioner wanting to recover money;
  • an individual wanting Asset Protection Advice to protect your family’s wealth; or
  • a director of a Company facing hardship, as you may have personal liability, but there are Safe Harbour Provisions if properly implemented.