Help: being made bankrupt in 2 weeks time. WON!!!!

[Celestine]

Re: Help: being made bankrupt in 2 weeks time.

:tinysmile_twink_t2:
Until CHGC updates...I can't say too much x

[Celestine]

Re: Help: being made bankrupt in 2 weeks time.

Bankruptcy Petition Dismissed.

:beagle:

[enaid]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

Magic xxxx

[Amethyst]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

Good news I expect that's rather a relief for chgc xx

[Guest]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

Are we allowed to know the mechanism involved which produced this great result ?

[chgc]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

Good news I expect that's rather a relief for chgc xx

That has to be the understatement of the year !!!!!


WHAT A RESULT

I can't thank Kate enough for her help and guidance in getting this outcome.
As a result of Kate's intervention on a very short timescale I am now NOT going bankrupt.

I have learnt a great deal from becoming a member of this forum and I would also like to thank
the other kind members who offered help and support and I hope to be able to also give any help and advice
in any small way that I can in the future.

Kind regards

CHGC

[Amethyst]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

Are we allowed to know the mechanism involved which produced this great result ?

Clue in post #10

[Celestine]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

Are we allowed to know the mechanism involved which produced this great result ?

Yes, quite simply the s.78 request sent on the 17th February blocked the creditors route to bankruptcy. However, enforcing this point was going to be a struggle for CHGC. Upon instruction I was able to contact the creditor and make clear that counsel would attend the hearing to prevent enforcement without first complying with the s.78 request.
The other side realised this was a gamble that could become expensive so they took the sensible decision to dismiss the bankruptcy attempt so long as no order for costs was sought.
Luckily due to the high volume of cost victories we achieve, my firm are supportive for me to pursue these 'quick intervention' cases without the need to pursue costs from client or opponent.

[Guest]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

Yes, quite simply the s.78 request sent on the 17th February blocked the creditors route to bankruptcy. However, enforcing this point was going to be a struggle for CHGC. Upon instruction I was able to contact the creditor and make clear that counsel would attend the hearing to prevent enforcement without first complying with the s.78 request.
The other side realised this was a gamble that could become expensive so they took the sensible decision to dismiss the bankruptcy attempt so long as no order for costs was sought.
Luckily due to the high volume of cost victories we achieve, my firm are supportive for me to pursue these 'quick intervention' cases without the need to pursue costs from client or opponent.

Thanks, the section 78 argument seems to be quite effective in a number of cases I have seen. What is the situation long term, obviously a section 78 request breach can be remedied.

Does he long term remedy involve an arrangement for repayment being reached with the creditor, obviously I am speaking in general terms, rather than just in the case of the OP.

[Celestine]

Re: Help: being made bankrupt in 2 weeks time. WON!!!!

It really depends. If there is zero compliance with CCA, then in my experience Lowell leave them well alone.

If compliant documents are supplied even after several months, then the debt 'becomes live' again and my role could easily switch to negotiation of a sensible repayment plan.