Personal bankrupcy tourism to the UK where the rules are more lenient?

ajapale

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I was reading in one of today's Sunday papers that there are an increasing number of Irish (and other European) citizens filing for personal banrupcy in the UK courts by taking up short term residency in that juristiction.

In practice how would this work. What are the pros and cons of such an approach from the bankrupt persons point of view.
 
Would your debts not have to be in the juristiction in which you are filing for bankrupcy?
 
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