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Cheyney Goulding

Cheyney Goulding Solicitors

t: 01483 56 76 76   e: legal@cheyneygoulding.co.uk

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BANKRUPTCY AND INSOLVENCY – STATUTORY THRESHOLD INCREASE

04/01/2016 by Administrator

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BANKRUPTCY AND INSOLVENCY – STATUTORY THRESHOLD INCREASE

 

From the 1st October 2015, a creditor wishing to petition for an individual’s bankruptcy will need to be owed at least £5,000, rather than the £750 threshold that it has been for many years. No doubt this increase will have a significant impact on being able to recover smaller debts that will no longer contain the threat of bankruptcy proceedings.

This does not yet apply to petitions for a company insolvency where the threshold currently remains at £750.

 

Filed Under: Wealth Management

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Cheyney Goulding LLP is a limited liability partnership registered in England and Wales with registered number OC329864 and VAT number 641411771. The registered office and principal place of business is at Ward House, 6 Ward Street, Guildford, GU1  4LH. The members are G.R. Young and T.M. Marshall.

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