Insolvency

Insolvency Update
22/04/2013
The recent judgment in the case of Walter Lismore as Trustee in the Bankruptcy of James Joseph Davey v James Joseph Davey and Patricia Davey [2013]NIMaster 5  has once again highlighted the importance of complying with time limits when bringing applications. Circumstances The trustee sought to realise the bankrupt’s interest in his home more than 3 years from the date of bankruptcy. The law states that if steps are not taken to realise the bankrupt’s interest in his home within 3 years, then the home re-vests in the bankrupt automatically. However, there is a provision that a...