Specialist personal insolvency lawyers at Farleys Solicitors recently won an appeal at the High Court in London. Mark Skinner and Mike Drapala appealed to the High Court on behalf of Farleys’ client Varden Nuttall (in administration), after the County Court decided against them and dismissed their client’s Bankruptcy Petition.
The Bankruptcy Petition was brought against the debtor for breaches with her Individual Voluntary Agreement (IVA) and her failure to disclose the existence of a significant creditor at the inception of the IVA.
The Judge at the County Court refused to make a bankruptcy order and Varden Nuttall were advised by Farleys’ personal insolvency specialists that they had a good chance of reversing the decision at appeal. The High Court Judge reversed the County Court decision and made the debtor bankrupt.
Mark Skinner, Head of Personal Insolvency at Farleys commented “this was a significant victory for our client which we are very pleased with as it protects assets in the bankruptcy estate for the benefit of creditors. We are especially pleased that this is now a reported case within personal insolvency regulation.
“The case confirms the principle that the transparency and honesty of a debtor is imperative and if a debtor has persuaded creditors to agree an IVA and it was shown to have misled them, a bankruptcy order should be made.”
Here at Farleys Solicitors we offer a comprehensive range of legal services across all Bankruptcy and Insolvency matters. For further information or for a free consultation with a specialist personal insolvency solicitor call 0333 331 5468 or contact us here.