An Introductory Guide to Bankruptcy Proceedings - 6 Essential Modules

Introduction

Over the last 18 months, there has been a noticeable reduction in the number of statutory demands served and bankruptcy proceedings issued because of the restrictions imposed by the Corporate Insolvency and Governance Act 2020 (CIGA).

Once the restrictions are lifted legal professionals in the debt recovery field should be prepared for instructions in this area to recommence.

The bankruptcy process itself can be reasonably straightforward, however mistakes or errors can prove fatal, (and costly!) and so it is vital that you know how to complete, serve, and issue these documents correctly and swiftly.

Presented by Krystene Bousfield, this box set will look at the bankruptcy process from start to finish, providing practical advice and advising you on recent changes and developments in this area to ensure you are in the best position to advise your clients and improve their recoveries.

It is suitable for all those who work in the fields of debt recovery and enforcement, practicing in England & Wales, including litigators and debt recovery professionals.

What You Will Learn

This webinar will cover the following:

Module 1 - Pre-Action Work: Preparation is Key

This module will cover:

• What to consider and review before commencing the bankruptcy process
• Issues to discuss with your client so that they are fully informed before committing to bankruptcy proceedings
• Know your debtor - Is bankruptcy the best method of debt recovery for your client?

Module 2 - Governing Legislation

This module will cover:

• A review of the Insolvency Act 1986
• Consideration of the Insolvency (England and Wales) Rules 2016
• The Practice Direction on Insolvency Rules

Module 3 - Pros & Cons

This module will cover:

• A look at the advantages and disadvantages of the bankruptcy process
• In what instances should it be used, and when should it be avoided?
• Costs implications and case law

Module 4 - An Introduction to the Bankruptcy Process & Statutory Demands

This module will cover:

• The criteria for establishing that an individual cannot pay their debts
• Minimal sums payable before the bankruptcy process can be commenced
• What is a statutory demand and what is its relevance in bankruptcy proceedings?

Module 5 - Getting Your Paperwork in Order

This module will cover:

• An overview of the petition procedure, relevant forms, and supporting evidence
• Effecting service correctly
• Practical hints and tips on completing your application to avoid timely and costly mistakes

Module 6 - Implications of Bankruptcy

This module will cover:

• The appointment of a trustee in bankruptcy following the making of a bankruptcy order
• When does a bankruptcy end?
• What are bankruptcy debts?
• The effect of bankruptcy on creditors

This webinar was recorded on 16th February 2022