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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Can a person who has a high court judgemennt issues against

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Can a person who has a high court judgemennt issues against them apply for one of the pesonal insolvency options or bankrupsy before the party with the judgement gets to lay claim to an asset?
Alex Watts :

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

Alex Watts :

For now please let me know if Judgment has been entered yet ?

Customer:

the judgement was entered into vouultarily on the day of a high court hearing on July 30ieth In Dublin. The court gave 2 months where no action could take place and the courts have been on holiday since for 2 months. The courts open on Monday the 6th of October and the plaintiff plans to take a charge on a number of assets but suspects the defendant will cover off the option by opting for bankrupsy or an insolvency option

Customer:

What do I do now I assume just wait?

Alex Watts :

Ok - yes you can go bankrupt before a charge is applied for

Alex Watts :

That would overrule any charge later as the Receiver gets automatic first charge

Alex Watts :

If the person waits until after charge the CCJ debt becomes secure and they get first bite of the cherry

Alex Watts :

The Receiver only then takes the equity

Customer:

The charge was granted but a stay was put on it for two months so is that the same situation

Alex Watts :

Ok - so has the charge been put in place?

Alex Watts :

Rather than enforced?

Alex Watts :

Is the charge registered on the land?

Customer:

Yes in the High Court in Dublin but no action to be taken for 2 months

Alex Watts :

Ok its bad news then. If you go bankrupt the Receiver will charge the equity left.

Alex Watts :

But the High Court debt is secure

Customer:

I dont follow what does the high court debt mean. No specific assets were charged yet as the two month stay was in place but luckily co incided with the*****holidays

Alex Watts :

Ok - has the PROPERTY been charged? Is the charge registered - you said it was?

Customer:

No the judgement was gven but no specific property was charges as there was a 2 month period of non action

Alex Watts :

Yes but has a charge been granted on the property?

Customer:

No the plan is to put a charge on shares on various SMEs on Monday next as well as a farmof land but not possible to do it until 9AM Monday the 6th of October due to court holiday We suspect an application for bankrupsy will be applied for in a different part of the country at the same time but in a district court

Alex Watts :

Ok so no charge

Alex Watts :

In that case if you go bankrupt now the Receiver gets the charge and takes the equity

Alex Watts :

Then the other debt is included in the bankruptcy

Alex Watts :

Does that answer your question?

Customer:

So no benifit to the person who went to the trouble of taking the High Court Action they have the same status as everybody else

Alex Watts :

No

Alex Watts :

If they go bankrupt before there is no benefit

Alex Watts :

The Receiver takes the equity

Customer:

Can any action be taken to prevent the bankrupsy

Alex Watts :

Can I clarify anything for you about this today please?

Alex Watts :

Sorry - no you can't prevent it

Alex Watts :

If the person wants to become bankrupt, you cant stop them - its their right

Alex Watts :

I am guessing you are the person owed the money?

Alex Watts :

Sadly if there is a stay on enforcement there is nothing you can do

Customer:

Thanks

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