Legal Partner DWF looks at why creditors shouldn’t overlook bankruptcy
Katharine Lawrenson, a Solicitor and Partner at DWF LLP, looks at the reasons why creditors should not always overlook bankruptcy in their quest to get paid.
Creditors often don’t ‘bother with bankruptcy’ because of the cost and time it takes. Bankruptcy is commonly dismissed as an option when it can be a very useful tool in the armoury of a credit manager. I have specialised in personal insolvency for 26 years and as I wear many hats, I encounter conflicting views on bankruptcy. In heading up our Creditor Services team I assist creditors in managing their insolvent portfolios, but I also act for Insolvency Practitioners when they are appointed as Trustee in Bankruptcy.