Alex Watts : Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply. P
Alex Watts : The claimant can take steps to enforce it.
Alex Watts : They can apply for a freeze on the bank account or the £5000
Alex Watts : They could apply to charge your shares which means you can't sell them and if you did the proceeds would go towards the debt.
Alex Watts : You could possible be forced to sell the shares.
Alex Watts : Any assets you have could be liquidated or they could make you bankrupt.
Alex Watts : I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest
Alex Watts : Can I clarify anything for you about this today please?
Hi There, thank you for your response. UNder what circumstances could I be forced to sell the shares, and such an action take into account the difficulity of doin so, and that as a result of this difficulty I am very unlikley to get true market value for teh shares.
Alex Watts : It makes no difference the claimant can make an application and your shares are charged with the debt.
Alex Watts : If they make you bankrupt, on that day the shares transfer to the official reciver.
Alex Watts : The fact that it is hard to sell or undervalued makes no difference.
Alex Watts : If you owe the money the claimant makes an application and the court makes an ordrt.
Alex Watts : order
Alex Watts : I am sorry
Alex Watts : Can I clarify anything else?
No, I think that covers it, thank you