| T O P I C R E V I E W |
| nicholasg |
Posted - 10 January 2009 : 21:10:50
If you go bankrupt from abroad how does the OR decide on your living expenses because the base figures used only apply to the UK.
Also I have read that if there is an excess inclome > 100 GBP, 70% of the excess will be used to pay creditors? Is this true? |
| 13 L A T E S T R E P L I E S (Newest First) |
| pix1 |
Posted - 11 January 2009 : 11:49:54
Nicholasg,
You may have already seen this link but it is from the Onsolvency Service and goes into issues of petitioning if you are living abroad;
http://www.insolvency.gov.uk/freedomofinformation/technical/foreignissues.htm
It seems your centre of main interests needs to be the UK and this, I think, is supposed to be for the past 6 months. If all your debts are UK debts you might be able to come over to the Uk to declare bankruptcy. Might need a UK address, though.
Paul, is it possible to petition bankruptcy from a UK temporary address (even a B&B! or hotel) then update the OR with a foreign address shortly after? |
| pix1 |
Posted - 11 January 2009 : 11:39:46
nicholasg,
I have searched the Insolvency Service website and cannot find anything which definitively says how the examiner's deal with I&E issues when you are living abroad. They do convert foreign debts into sterling, see this link;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch37-48/chapter40/part9/part9.htm
Scroll down to "40.144 Rate of Exchange"
Therefore, I would guess that they will convert whatever your I&E figures are into sterling and decide from those results. i think that if the pound is falling, which it is (not least because of the government's inept economic management) it will make it appear you have more disposable income but I am no currency expert. |
| Reviva UK |
Posted - 11 January 2009 : 11:22:59
Still worth checking first as it is the clerk you need to convince before the judge.
you would petition in the high court in London and the fees there are £507 rather than £495
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| nicholasg |
Posted - 11 January 2009 : 11:17:39
Here is the question on the official involvency site
Can I make myself bankrupt in England if I live abroad?
Answer: Yes. If you are living in an EU member state, except Denmark, you must show to the Court that your centre of main interest is in the UK. If you live in another part of the World you can present a bankruptcy petition in England if:
(a) you are personally present in England and Wales on the day you present your petition for bankruptcy to the Court, or
(b) if you have lived or carried on business in England and Wales in the previous three years.
The country in which you live may not recognise the bankruptcy proceedings and creditors may still be able to take action against you in the country you live in.
I will satisfy both (a) and (b) as I am not living in a EU country
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| nicholasg |
Posted - 11 January 2009 : 11:13:44
quote:
Originally posted by Reviva UK
Hi
by your definition I believe the courts would view that you are not resident in the UK but is Switzerland.
I will try to check the status on declaring Br in the UK from Switzerland on Monday - I believe it is like Denmark and you can still petition in the UK
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com
|
| Reviva UK |
Posted - 11 January 2009 : 10:48:52
Hi
by your definition I believe the courts would view that you are not resident in the UK but is Switzerland.
I will try to check the status on declaring Br in the UK from Switzerland on Monday - I believe it is like Denmark and you can still petition in the UK
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| nicholasg |
Posted - 11 January 2009 : 10:42:35
4 months , Switzerland. My contract ends this month but I might stay in Switzerland or return to the UK (depending on where I find a job). I don't have a uk address because I gave up my flat (rented) when I left for Switzerland.
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| Reviva UK |
Posted - 11 January 2009 : 10:33:52
how long have you been abroad , where are you and how long will you be?
i.e. do you still have a UK address but your job has taken you to europe for X weeks to complete a contract?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| nicholasg |
Posted - 11 January 2009 : 10:29:24
My main centre of interest for the last 3 years would be deemed the UK I'm only temporarily living outside the UK. I'm not resident in Italy.
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| nicholasg |
Posted - 11 January 2009 : 10:27:36
quote:
Originally posted by Reviva UK
Hi
You cannot petition for br is you live in another EU country. Under the EC Regulation
(i) Centre of main interests should correspond to the place where the debtor conducts the administration of his interests on a regular basis.
(ii) Establishment is defined in the Council Regulation (No 1346/2000) on insolvency proceedings as “any place of operations where the debtor caries out a non-transitory economic activity with human means and goods”
Therefore if you reside in Italy you need to petition in Italy which is a completely different animal completely.
If you are movimg to Italy it needs to be done before you get on the plans
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com
|
| Reviva UK |
Posted - 11 January 2009 : 10:23:38
Hi
You cannot petition for br is you live in another EU country. Under the EC Regulation
(i) Centre of main interests should correspond to the place where the debtor conducts the administration of his interests on a regular basis.
(ii) Establishment is defined in the Council Regulation (No 1346/2000) on insolvency proceedings as “any place of operations where the debtor caries out a non-transitory economic activity with human means and goods”
Therefore if you reside in Italy you need to petition in Italy which is a completely different animal completely.
If you are movimg to Italy it needs to be done before you get on the plans
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| nicholasg |
Posted - 11 January 2009 : 09:52:08
Italy or Switzerland. If your income changes a lot from from month to month because I contract it may be zero for some months how does the OR determine your income?
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| Reviva UK |
Posted - 10 January 2009 : 22:10:22
Hi
the income payment agreement is a mechanism to allow the oR to collect a percentage of your disposable income to contribute towards the bankruptcy costs and debts.
They will expect between 50 - 70% of disposable income on a monthly basis for 3 years.
The OR will do some background checks regarding income & expenses abroad but if you are fully prepared you could theoretically have a complete file and send the OR details of costs to make it smoother such as bills, rents food bills etc etc .
If you go bankrupt from abroad it is a slightly different procedure depending upon where you will be.
Which country are you looking to petition from
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
