Bankruptcy Fraud Solicitors in London

Updated on Thursday 29th August 2019

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Bankrupted companies that, under varied reasons, do not properly declare the properties they own or do not transfer the assets at the time the procedure commences might be suspected of fraud. The legal support of our bankruptcy fraud solicitors in London is at your disposal if your company faces such accusations or if you have been suspected of such crimes. Also, our criminal defence lawyers in London can provide in-depth and immediate legal assistance and representation for victims of bankruptcy frauds in UK.

What is bankruptcy fraud and what are the consequences?

Unfortunately, not all bankruptcy processes are transparent and honest, and the authorities need to struggle even more to stop persons from the temptation of hiding personal properties. In large lines, bankruptcy fraud refers to individuals owning companies and do not declare all the assets when a bankruptcy procedure starts. We have gathered a few details about the bankruptcy fraud in UK, mentioning in the same time that our criminal defence solicitors in London are at your service with immediate legal advice if such accusations have been brought to you:
  1. Failing to list all the assets in a bankruptcy process with an obvious intention can be considered deceitful.
  2. Cases in which false documents about personal assets are used in order to hide different belongings.
  3. Covering a property transfer before a bankruptcy process starts can be considered a serious crime.
  4. Paying a person to hide the properties in terms of documents it’s a crime.
  5. Making false declarations about the properties you own is also illegal and part of bankruptcy fraud cases.
Bankruptcy frauds might take many forms, besides the ones mentioned above, and it is important to ask for the support of our bankruptcy fraud solicitors in London when dealing with the authorities. Also, the case of victims accused of bankruptcy frauds in UK are attentively measured by our team of criminal solicitors in London, so do not hesitate to get in touch with us.

What happens if you commit fraud before bankruptcy takes place?

Fraud cases might appear before the bankruptcy is declared. For instance, criminals might falsify documents for a credit in order to decrease or inflate a debt, change luxury items and cash out before the bankruptcy is declared, purchase items with the existing credit without having the intention of repayments. In any case, there are serious crimes for which persons found guilty can face many years of imprisonment. We are at your service if you would like to know your rights in case of such accusations, so do not hesitate to talk to one of our bankruptcy fraud solicitors in London and ask for immediate legal advice.

Suing the debtor in a bankruptcy case

Creditors have all the right to file a lawsuit if they believe or suspect the debtors have been doing wrongful steps, particularly in bankruptcy cases. Such frauds cannot pass without punishments, so the first thing a creditor can do is to get in touch with the authorities and make a complaint. Among the penalties, we mention that the court of law can sentence the debtor for several years of imprisonment, dismiss the bankruptcy case, impose the debtor to pay huge penalties. Feel free to talk to one of our criminal defence lawyers in London and solicit immediate legal advice.

Common types of bankruptcy frauds 

Transferring the assets before the bankruptcy process starts, falsifying documents, purchasing luxury items, or failure to list the whole assets are a few of the types of bankruptcy frauds that might take place. It is often met the case of debtors who hide different properties or other types of assets before the bankruptcy is declared. Some might transfer them to relatives until the bankruptcy process finishes, and then recover them back. If such accusations have been brought to you, do not hesitate to give us a call or address your inquiries to our bankruptcy fraud solicitors in London and ask for legal advice. Below you can find a few details and statistics about frauds in the UK:
  • approximately 16,600 bankruptcy orders have been registered in 2018 in UK;
  • around 4,196 bankruptcy orders were registered in Q4 of 2018 in UK;
  • in Q2 of 2018, approximately 4,000 companies declared insolvency in UK;
  • most of the insolvent companies in UK in 2018 were incorporated in the construction sector.
We believe that immediate legal advice from our bankruptcy fraud solicitors in London is needed for such accusations, as soon as possible. Feel free to get in touch with our criminal defence lawyers in London at any time.