With debt on the rise in these straitened times, retired costs judge John O’Hare considers the ways in which both individuals and businesses can use insolvency law to ease their financial pressures, in this week’s NLJ
The most dramatic option is to file for bankruptcy, a process that can now be made online. Less drastic options exist, however. O’Hare explains how insolvency law can be used to give the debtor breathing space before enforcement of debt collection―individuals have three main ways to do this while companies also have a variety of responses and delaying mechanisms at their fingertips.
O’Hare sets out the various options available to debtors, in a timely and easy-to-follow article.
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