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Mark.gn
Starting Member
5 Posts |
 Posted - 05 April 2011 : 21:43:32
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Hi, I am looking to move to Sweden very soon, however if I move can a creditor in the UK still petition for my bankruptcy in the UK and can it be enforced in Sweden. The reason i ask is that the insolvency guide says "If you now normally live or work in another EU country (apart from Denmark) it is unlikely that
you can be made bankrupt in England or Wales, even if you have had residential or business connections here within the previous 3 years. If this applies to you, you may wish to seek separate legal advice". Unfortunately I keep getting conflicting information from numerous sites, however I believe Sweden in particular (even though being in the EU) has no agreement regarding enforcement of bankruptcy petitions placed in the UK. Could you Kindly confirm this please.
Many thanks
Mark |
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debtinfo
forum expert
2826 Posts |
Posted - 05 April 2011 : 21:54:25
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| All european countries (apart from denmark) uphold each others bankruptcy laws, there is a special EC regulation that they all signed up to |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 05 April 2011 : 21:59:18
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Hi Mark
are you going to declare BR before you go or once you get to Sweden ?
if you have creditors in the UK I would try to resolve issues as you do not want them turning up with a bit of paper at the wrong time regardless of the country.
No they cannot petition for your bankruptcy. (edited after post..if you do not live in the UK but if you present debtors petition as debt info states european agreement includes Sweden)
Timings of when and how to declare BR can be complex, if you are considering BR speak direct to one of the experts who specialise in overseas BR and LPA (lasting power attorney) they can give guidance.
Good Luck Richard,
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Edited by - Richard P on 05 April 2011 22:20:20 |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 05 April 2011 : 22:16:05
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Hi mark
too clarify their are two types of petition
a debtors petition, you putting your hands up in the air, sorry guys cant pay, you take your self to court. which is the local court to your home
basically, a creditors petition is when one of your creditors thinks that you have assets and they would like the court to seize your assets to pay your bills. Normally High Court in London, very rare for banks and financial institiutions to do as it costs them lots of money. HMRC are very quick to go to court
Good Luck Richard,
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Mark.gn
Starting Member
5 Posts |
Posted - 05 April 2011 : 22:47:47
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Hi Richard P and debtinfo,
Thank you both very much for your replies and regarding my status things are not that drastic at present. I have just one old business creditor that I gave a personal guarantee to. Unfortunately my business went in to liquidation and as a limited company my creditors were partly settled off based on assets in the company. However the aforementioned creditor with the directors guarantee may still look in the near future to petition for my bankruptcy? Realistically I think they wont. I am moving to Sweden as I have a job offer there and my wife is from Sweden so makes sense to have a fresh start. My concerns was if they did petition for my bankruptcy in the UK, 1. would it be possible considering I will be resident in another country and 2. If it was possible could it be enforced in Sweden.
I appreciate your reply debtinfo but I have to agree with Richard P as I have read under the debt insolvency service info that bankruptcy cannot/very difficult to be petitioned to someone who is residing in a foreign country even in the EU. Also I read an article that if a bankruptcy order is given in the UK, under Swedish law it is not usually enforceable in Sweden unless it is approved by the Swedish courts. I believe the ruling debtinfo talks about is the EU Council Regulation No 1346/2000 of 29 May 2000 on insolvency proceedings. As I understand and I may be reading it wrongly so apologies if I am but Sweden and a couple of other EU countries did not sign up to this in its entirety.
Again I could be reading this wrong. I just wanted clarification from some experts in this field as there is lots of conflicting info regarding this?
My personal situation at present is fine and I would not personally petition for bankruptcy, but instead and in worse case scenario wanted to understand how I stood should this situation ever arise, which hopefully it will not.
Again thank you for your responses it is much appreciated and it is nice to know that there are people out there willing to help with advise.
Regards
Mark
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debtinfo
forum expert
2826 Posts |
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Mark.gn
Starting Member
5 Posts |
Posted - 05 April 2011 : 23:13:32
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Hi debtinfo,
Many thanks for this really appreciated and will have a good look through it. Bl***y minefield trying to find the correct information. So again many thanks for your help.
Regards
Mark
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pruparelia
Starting Member
2 Posts |
Posted - 09 December 2011 : 12:23:37
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| Hi. What happens if you have already been declared bankrupt and then move to Sweden to get married? What can the creditors do? I will be moving with no job and no assets. Will they have access to his assets? |
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Mark.gn
Starting Member
5 Posts |
Posted - 09 December 2011 : 12:50:50
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quote:
Originally posted by pruparelia
Hi. What happens if you have already been declared bankrupt and then move to Sweden to get married? What can the creditors do? I will be moving with no job and no assets. Will they have access to his assets?
Hi Pruparella,
The answer is no as long as all the assets are in your husbands to be name. Also if you are moving to Sweden then it would be an absolute nightmare and probably cost prohibitive for creditors to chase you over there. They would have to apply to swedish courts with justifiable reasons etc etc. However as mentioned this would only be applicable if your husbands assets where also in your name prior to and during the bankruptcy period. If not then you have nothing to worry about especially if you are moving over there?
I am no expert on legal/bankruptcy matters and if it makes you feel better would recommend that you speak with a solicitor/lawyer that specialises in cross border laws, but as said I firmly believe you have no worries especioally if you were open and honest with your official receiver.
I hope this helps.
Cheers
Mark.gn
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pruparelia
Starting Member
2 Posts |
Posted - 09 December 2011 : 13:48:29
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| Thanks Mark.gn. What about if I have a payment order against me? Obviously I would have no income initially. |
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Mark.gn
Starting Member
5 Posts |
Posted - 09 December 2011 : 15:20:22
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quote:
Originally posted by pruparelia
Thanks Mark.gn. What about if I have a payment order against me? Obviously I would have no income initially.
There are 2 ways you could look at this move to Sweden and to hell with it, the chances of them chasing you are slim. However my strong advice is to speak with the Official receiver and tell him your plans and the financial situation. They can't take what you have not got and being honest and up front with the OR will go in good stead and you will come out of your bankruptcy clean with head held high. The first option is not so good if you plan to ever return to the UK as the OR can extend your bankruptcy for a number of years rather than 12months and you could be in serious trouble when you came back for not telling them.my advice do the right thing and seek legal advice if still unsure! Hope this helps!
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 09 December 2011 : 16:08:03
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Hi pruparelia,
Don't worry, lots of people move abroad after their bankruptcy, if you have no income then your income payment order will stop, just keep in touch with the OR and inform them of any changes if you do start work again.
Best wishes for your wedding!
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Hi, I am looking to move to Sweden very soon
