Tollers team understands bankruptcy and understands the pressures you are under when it is a reality. Even though becoming bankrupt may seem to be the ‘end of the world,’ with the right guidance, the process can provide the best possible outcome when the financial pressure being exerted becomes too much.
We act both for Insolvency Practitioners who manage bankrupt estates and for the individuals themselves on all aspects that arise out of personal insolvency.
Our advice covers the formal bankruptcy process as well as extending to the less formal, but equally important Individual Voluntary Arrangement process.
When acting for Insolvency Practitioners we generally assist with the enforcement of the bankruptcy provisions in the Insolvency Act legislation. Ordinarily, this will mean assisting with the preservation and recovery of assets as well as ensuring compliance by the bankrupt with the bankruptcy regime.
In addition, Tollers will advise its Insolvency Practitioner clients in connection with the often tricky process of realising the bankrupt’s interest in property which ordinarily, will constitute the most valuable asset in the bankruptcy estate.
As well as advising Insolvency Practitioners, Tollers team can assist individuals to include creditors affected by bankruptcy through all aspects of the process whether in an advisory capacity at the outset or following the making of a bankruptcy order.
Where bankruptcy might be avoided through an Individual Voluntary Arrangement we can assist in the process of reaching a contractual compromise with the debtor and his or her creditors.
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If you are an individual concerned by bankruptcy, our expert team can also put you in touch with experts from the insolvency profession with a view to assisting you in finding a solution. In all aspects of the process, you will find our team to be understanding and sensitive to your needs.