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Insolvent divorces

27 November 2008 / Michael Wilkinson
Issue: 7347 / Categories: Features , Divorce , Family
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Divorce, bankcruptcy...and the credit crunch. A painful combination, says Michael Wilkinson

As the property market descends, once again, into negative equity, and banks and businesses slam on their proverbial brakes and put a stop to their (previously generous) credit and loan facilities, the credit crunch looks set to hit home —and its impact is likely to affect more than merely the family purse. Married couples beware. Those finding it tough presently making ends meet, may soon be stretched beyond their limits and not only from an economic point of view.

Tales of insolvency and a break-up of the family unit are likely to become increasingly more commonplace. The consequence for the family law practitioner is that there are likely to be more than just two hungry parties looking for a slice of the family cake.

Surviving the wreck of a partner’s bankruptcy can be hard enough in itself. Managing to salvage anything from it while also divorcing the bankrupt partner, is often impossible. The sad reality is that if the husband (and it usually

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MOVERS & SHAKERS

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

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The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
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