Insolvency Made Clear: A Guide for Debtors

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Contents Chapter 3 Should a debtor go bankrupt? 39 Chapter 4 Chapter 5 3.1 Is the debtor solvent on the ‘balance sheet’ basis? 39 3.2 Other factors 41 Box 11: Immigration reasons 43 3.3 Voluntary bankruptcy 43 Statutory demands and unsuccessful execution of judgments 45 4.1 Types of debt 45 4.2 What is a statutory demand? 47 4.3 Service of a statutory demand 48 4.4 Consequences of a statutory demand 49 Box 12: Time limits if the debtor is outside England and Wales 49 4.5 Expedited demand 49 4.6 Application to set aside the statutory demand 50 4.6.1 How to make the application 50 4.6.2 Contents of application 50 Box 13: Challenging HMRC tax assessments 53 Box 14: Applications out of time 56 4.7 Statutory demands in respect of debts not immediately payable57 4.8 Initial review by the court 57 Box 15: Court delays 58 4.9 The first hearing 58 4.10 The substantive hearing 59 4.11 Orders at the hearing 59 4.12 Challenging the statutory demand 60 Box 16: Execution of judgment 62 Bankruptcy petitions and bankruptcy hearings 69 5.1 What is a bankruptcy petition? 69 ix
Insolvency Law Made Clear – A Guide For Debtors 5.2 Jurisdiction 69 Box 17: Forum shopping 74 5.3 Debts 75 5.4 Statutory demand 75 5.5 Court choice 76 5.6 Additional steps 78 5.7 Withdrawal of petition 79 5.8 Service of the petition 79 5.9 Timing of the hearing 82 5.10 The hearing of the petition 82 Box 18: When to file a notice of opposition 83 5.11 Outcomes of the hearing 83 5.12 Adjournment of the petition 83 5.12.1 Technicalities 83 5.12.2 Enable evidence to be fully heard 84 5.12.3 Enable debtor to satisfy the court of their power to pay debts 85 Box 19: Staying the petition 88 5.12.4 Running multiple arguments 88 5.13 Grounds to oppose a bankruptcy petition 89 5.13.1 Serious procedural irregularities 90 5.13.2 The debtor has no assets 91 5.13.3 Bankruptcy would be disproportionate 92 5.13.4 The debt is not for a liquidated sum 92 5.13.5 The debt is disputed 93 5.13.6 The debtor has made an offer to settle 93 5.13.7 The petition is an abuse of process 96 5.13.8 The creditors are guilty of improper behaviour towards the debtor 99 5.13.9 Bankruptcy would have a serious psychological impact on the debtor; or the debtor is very elderly or unwell 99 x
Page 1 and 2: INSOLVENCY LAW MADE CLEAR A GUIDE F
Page 3 and 4: Published June 2021 ISBN 978-1-9163
Page 6: Acknowledgments I owe special thank
Page 9: Insolvency Law Made Clear - A Guide
Page 13 and 14: Insolvency Law Made Clear - A Guide
Page 20 and 21: Preface: the effects of the pandemi
Page 22 and 23: Legal terms defined ‘The Act’:
Page 24 and 25: Legal Terms Defined A ‘dispositio
Page 26 and 27: Legal Terms Defined a bankruptcy or
Page 28 and 29: Legal Terms Defined A ‘third part
Page 30 and 31: Introduction and aim of this book T
Page 32 and 33: Introduction And Aim Of This Book A
Page 34: Part 1 BANKRUPTCY The next few chap
Page 46 and 47: Chapter 2 Effect of bankruptcy This
Page 48 and 49: Effect Of Bankruptcy will only choo
Page 50 and 51: Effect Of Bankruptcy Box 5: HOW MUC
Page 52 and 53: Effect Of Bankruptcy by giving noti
Page 54 and 55: Effect Of Bankruptcy the seller goe
Page 56 and 57: Effect Of Bankruptcy The judge held
Page 58 and 59: Effect Of Bankruptcy Finally, the f
Page 60 and 61:
Effect Of Bankruptcy to have an awk
Page 62 and 63:
Effect Of Bankruptcy 2.10 Running t
Page 64 and 65:
Effect Of Bankruptcy although it is
Page 66 and 67:
Effect Of Bankruptcy either volunta
Page 68 and 69:
Effect Of Bankruptcy 2.16 Investiga
Page 70 and 71:
Effect Of Bankruptcy ‘privileged
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