Personal Financial Difficulties
Whatever the cause, we can assist those dealing with the consequences of personal financial difficulty; be they lenders, family members or professional trustees. We can advise on the options that may be available to affect financial rehabilitation, or alternatively the steps that are necessary to safeguard those affected by an individual’s financial problems.
We can also provide invaluable advice on the efficacy of personal wealth protection strategies for individuals and their families.
Examples of our recent work include:
- devising a plan of financial rehabilitation by means of an Individual Voluntary Arrangement, family funds being available as a condition of creditors agreeing to compromise their claims against the individual
- acting for a wife following her husband’s bankruptcy in regards to the successful negotiation with his trustee in bankruptcy averting the sale of the family home
- providing advice to a family regarding a sibling’s insolvency and the effect it has on family trusts and jointly owned properties
- planning and implementing the split of a family business between siblings by means of a solvent winding up scheme
- advising on the interplay between matrimonial and bankruptcy proceedings
- acting for an offshore bank on the recovery of a multi-million pound residential property loan to a high profile Eastern European high-net-worth individual. This was because of international/cross-border criminal investigations, civil recovery actions and worldwide freezing orders. The advice led to appointment of a receiver, realisation of the property and repayment of the client’s debt