Bankruptcy
Bankruptcy is a procedure designed to deal with the affairs of an insolvent individual for the benefit of his or her creditors generally by a licensed insolvency practitioner who is referred to as a trustee.
When a person becomes bankrupt, control of their assets (referred to as their estate), with some exceptions, pass to the trustee who realises them for the best possible value and distributes the proceeds to the bankrupt’s creditors. We advise individuals on whether bankruptcy is right for them and explain the benefits and consequences of bankruptcy on their particular circumstances.
We also act as trustees of bankrupt estates to recover assets for the benefit of creditors and advise debtors who are experiencing practical issues with the trustee of their estate.
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