Individuals who have invested in residential properties have been experiencing considerable losses ever since the value of the properties fell considerably over 4 years ago. de Jonge Read have been engaged by numerous clients to negotiate a settlement with their respective rather than enter into personal bankruptcy. An example of how we achieve outstanding results in debt negotiations was detailed in our last seminar series. Despite the recent decrease property values in the
Often one of our client’s biggest fears is losing the family home in a bankruptcy scenario. This situation is exacerbated when one partner in a relationship is going bankrupt and the other not, especially where children are involved. Thankfully in the first instance, whilst a bankrupt’s share in a property vests in their bankruptcy trustee upon appointment, the trustee would only look to sell the property in the event equity exists. In most cases where there are joint tenants
Bankruptcy can be an extremely emotional and stressful time, it weighs heavily on the individual as well as on their family. Though entering bankruptcy may release the creditor pressure valve, other issues may rear their ugly heads. One of these issues is risk to family assets. The bankrupt’s spouse may wonder what will become of their beloved family home. In certain circumstances there may be a light at the end of the tunnel. This light comes in the form of the Doctrine of E
Getting specialist insolvency advice prior to entering into bankruptcy can have an enormous impact on the process and outcomes. This month’s case study depicts a situation where our client entered into bankruptcy without specialist advice and how de Jonge Read assisted in dealing with issues that were subsequently faced by our client.
Earlier this year we were approached by a client who previously operated a retail outlet as a sole trader.
Due to insurmount