Bankruptcy

The number of bankruptcies in the UK has grown not just due to recessionary factors but also due to the ease with which individuals can obtain credit and petition for their own bankruptcy. Whilst it could be construed that these factors have allowed many to seek ‘freedom’ from their debts within a year, bankruptcy can be more complicated than some may assume – especially when the debtor has assets.

With specialist bankruptcy knowledge the Trustee will seek to minimise costs and maximise recoveries and to pay dividends to creditors in as many instances as possible. CMB Partners has significant experience in undertaking significant and detailed investigations on behalf of creditors to assess whether individuals who claim to have no assets have presented the position truthfully and have not attempted to put assets beyond the reach of their creditors.

At the same time, where a bankrupt faces the prospect of losing a significant proportion of their assets, the team at CMB will act with compassion and respect to achieve a fair result for all parties and help guide an individual through the minefield of personal insolvency.