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Jamie-Law
Jamie-Law, Solicitor
Category: Law
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Experience:  Solicitor
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I have a question to an insolvency lawyer, i am an

Resolved Question:

hello , i have a question to an insolvency lawyer, i am an individual , i have exchanged a contract to sell part of my house to a third party but after the exchanged i have received a bankruptcy petition on my house.there was a hearing on 26th of august, i have attended that and explained to judge that i have exchanged to sell part of my house and i was going to pay the debt, the judge agreed to give me extra time to sell, adjourned the hearing to 25th of october. I have given an undertaking to my solicitor to pay the debt to the creditor, they have agreed that they would dismiss the adjourned hearing but apparently the bankruptcy petition can only be removed by the court if i pay it in full, but that can only be done if i sell the house and i cannot sell it when there is bankruptcy petition. i have found out that i need to fill a validation order to the court. is there anything you can do
Submitted: 1 year ago.
Category: Law
Expert:  Jamie-Law replied 1 year ago.

Hello my name is ***** ***** I will help you with this.

Wont the petitioning creditor agree to remove it?

Customer: replied 1 year ago.
Until they are fully paid they wont , i contacted the court and they said my solciitor has to file a validation order
Expert:  Jamie-Law replied 1 year ago.

Wont your Solicitor do this?

Customer: replied 1 year ago.
Well i m not really sure that she understand the whole thing about this insolvency. She told me from the beginning that because i have exchanged before the bankruptcy petition i could sell it woth no matter and now they are saying we have to lift the petiition and they aren t a insolvency solciitro and she was looking for one to do it and shenis taking her time. So what i am trying to understand is where i stand , what is this validation order , how to fill it to court and is it possible to do this as an emergency , quickly
Expert:  Jamie-Law replied 1 year ago.

No thats not right. Just because you exchange it just means that you are selling.

Until you complete the property still belongs to you. If you had completed then it would be ok.

But as you have just exchanged, this just means you will be selling, so until that is done anyone can place a bankruptcy restriction on.

You need to get a Validation order, make an emergency application to the Court, your Solicitor can do this.

Once approved then all concerned can let the sale proceed and the petition can be discharged.

There is some guidance found here:

https://www.insolvencydirect.bis.gov.uk/technicalmanual/ch25-36/Chapter31/part4B/part5/part_5.htm

Can I clarify anything for you about this today please?

Jamie-Law and other Law Specialists are ready to help you