Posts Categorized: Bankruptcy

Credit Due for Mortgage Payments in Bankrupt House Sale

When a person is made bankrupt, their trustee in bankruptcy will seek to unlock any available assets they have to pay off creditors. One of the main assets people hold is their house, which is often co-owned with a spouse or partner. It is common for the trustee in bankruptcy to seek to force a… Read more »

Pension Protected for Bankrupt

Bankruptcy laws strike a delicate balance between satisfying creditors and enabling debtors to make a clean break so that they can get on with their lives. In one ruling that clarified the law, the Court of Appeal decided that the balance came down in favour of allowing a bankrupt businessman to preserve his private pension…. Read more »

Social Friends Don’t Always Make Good Business Partners

Personal friendship is sadly not always a good foundation for business relationships. In one case, a falling out between workplace colleagues who had been socially close for almost 20 years ended up being fought out before employment tribunals. The two men had established a successful company and were its only directors. One of them owned… Read more »

Careless Insolvency Practitioner Must Repay £548,000

An experienced and respected insolvency practitioner who paid out almost £550,000 from a company in liquidation when she should not have done has been found liable to repay every penny after the High Court found that she had slipped below the standards of care and diligence to be expected of a professional. The woman, who… Read more »

Race Abuse Compensation Levels

In refusing to increase a £6,000 damages pay-out awarded to an Army chef after he was called a ‘dumb black b***ard’ by a sergeant, the Court of Appeal has underlined the importance of public perception and that victims of race discrimination must not be seen as being over-compensated for their injured feelings. Lawyers representing the… Read more »