Personal
Bankruptcy
A court process to address personal insolvency.
What does this entail?
Bankruptcy is a formal legal process applicable where an individual is unable to meet his/her financial obligations as and when they fall due. Once a bankruptcy order is made, a Trustee in Bankruptcy is appointed to take control of the individual’s estate, realise assets and distribute proceeds to creditors in accordance with statutory priorities.
The process provides a structured and legally acceptable means of addressing personal insolvency, ultimately allowing an individual to be discharged from his/her liabilities and provide a “second chance”.
Get in Touch
Chris Iacovides
Chief Executive Officer
Andri Antoniou
Director - Licensed Insolvency Practitioner
Marios Kofteros
Director - Licensed Insolvency Practitioner
When is it appropriate?
Bankruptcy is appropriate where an individual’s financial position has become unsustainable and alternative solutions are no longer viable or appropriate. It is initiated either by creditor or debtor action when liabilities significantly exceed assets and where there is no realistic prospect of the debtor being able to discharge his/her liabilities.
How we can help
Our team has extensive experience in trusteeships and is able to provide professional guidance throughout the bankruptcy process.
We can assist with all aspects of the bankruptcy process, leading to the debtor being discharged or, if circumstances have changed since the making of the bankruptcy order, having the same annulled.
Next steps
Speak with our team for an initial, confidential discussion to understand the bankruptcy process and whether it represents the most appropriate option for your situation.
Key Benefits
A clear and legally defined process
- Discharge from bankruptcy debts
- Given a “second chance” following discharge
- Brings to conclusion ongoing creditor action
Experienced, Trusted Advisers
Our services are delivered by experienced, qualified professionals who follow a structured and transparent process, from initial assessment through to implementation. We combine technical expertise with a practical approach to ensure each engagement is managed professionally and focused on achieving appropriate outcomes for all stakeholders.