What happens when a debtor becomes unable to meet his/her/its financial obligations? Individuals in this predicament are at risk of having bankruptcy proceedings being brought against them by their debtors, whereas companies facing the same plight may become the subject of winding-up petitions. The ultimate purpose of bankruptcy or winding-up procedures is to allow the Director-General of Insolvency (in a bankruptcy case) or a liquidator (in a winding-up case) to administer and liquidate the assets of a bankrupt individual or a wound-up company so that the proceeds obtained therefrom may be distributed to the individual or company’s creditors.

We mainly act for creditors in bankruptcy and winding-up actions against debtors although we are still able to draw on our vast experience in this area to represent debtors, for example in applications for discharge from bankruptcy.

In our practice as creditors’ solicitors, we have employed our skills and knowledge in this area to enforce judgments by way of bankruptcy proceedings and to defend against the discharge of bankrupts where necessary.

Insolvency law requires strict procedural and technical compliance. Therefore, our firm puts great emphasis on ensuring that our practice is up to date with the current rules and procedures governing bankruptcy and winding-up proceedings and we are able to provide cogent advice to our clients, whether they are creditors or debtors, in this area.

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