Jim Stafford
Registered User
- Messages
- 631
It is possible to go bankrupt in NI, and the general UK bankruptcy rules apply.
However, the process of going bankrupt is much more rigorous than the mainland UK. All NI bankruptcy applications are heard by one judge, Master Fiona Kelly, and she is very sceptical of anyone with a former ROI address attempting to apply for a "quick" bankruptcy.
In order to go bankrupt in NI you need to convince the court that you have made a "genuine" move to NI i.e. that your change of Centre of Main Interests ("COMI") is genuine.
I heard the story of one couple who attempted to go bankrupt, and she asked the husband to leave the court and asked the wife what restaurants they went to in NI, and then asked the husband back and asked him what restaurants they went to and apparently they gave different answers and she refused their application.
Applications on the mainland UK are not subject to the same level of scrutiny.
Whilst bankruptcy is still a valid option for some people, you should really consider a PIA/DSA or informal scheme of arrangement with your creditors. Some of the banks are now doing realistic debt forgiveness deals.
Jim Stafford
However, the process of going bankrupt is much more rigorous than the mainland UK. All NI bankruptcy applications are heard by one judge, Master Fiona Kelly, and she is very sceptical of anyone with a former ROI address attempting to apply for a "quick" bankruptcy.
In order to go bankrupt in NI you need to convince the court that you have made a "genuine" move to NI i.e. that your change of Centre of Main Interests ("COMI") is genuine.
I heard the story of one couple who attempted to go bankrupt, and she asked the husband to leave the court and asked the wife what restaurants they went to in NI, and then asked the husband back and asked him what restaurants they went to and apparently they gave different answers and she refused their application.
Applications on the mainland UK are not subject to the same level of scrutiny.
Whilst bankruptcy is still a valid option for some people, you should really consider a PIA/DSA or informal scheme of arrangement with your creditors. Some of the banks are now doing realistic debt forgiveness deals.
Jim Stafford