UK Bankruptcy Law
UK Bankruptcy Law Questions Answered by Verified Experts
Thanks for the fast response.
Yes we are in the republic of Ireland and have one major debt.
Our house, in joint ownership is in 60% negative equity.
We are both in our late fifties and have a joint mortgage with 10 years to go which we have no chance of paying. Both of us are unemployed.
We plan on moving to the UK and establishing COMI. (document trail..)
After 6 months we plan on applying for bankruptcy.
We are trying to understand what restrictions we are under after we are both declared bankrupt on visiting Ireland and returning to Ireland permanently.
Thanks for your help,
I didn't clarify exactly what I'm asking.
How long after we meet the OR can we return permanently to Ireland?
I see that that in the Insolvency manual 43.0.10 it states "Additionally, where the official receiver considers that the bankrupt has returned to his/her home nation shortly after the making of the bankruptcy order, he/she may consider inviting the bankrupt to interview."
Thanks again for the fast reply.
This is definitely worth top marks plus a bonus!
Sorry to labour this,
but does the COMI become irrelevant after the final meeting with the OR.
Obviously as you said we need to be available if required but that's just a ferry or plane trip.
That's great advise.
We won't be in the very low profile!
My wise wife pointed out that problem is probably on the Irish side.
An Irish creditor could claim that our COMI was really in Ireland and that UK bankruptcy was not valid.
I'll check with an Irish Lawyer and see what are the Irish minimum requirements for accepting UK COMI.
Sorry for the multiple iterations!
I'll give your well deserved top Marks and bonus.