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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

17 JUL 2012

Her Majesty's Revenue and Customs v Garwood [2012] BPIR 575

(Chief Registrar Baister, 29 February 2012)

HMRC served a bankruptcy petition on G in respect of an undisputed liability of £58,432 which was undisputed. The debtor argued that HMRC had unreasonably refused an offer made by him to secure the petition debt, alternatively on the basis that there is a reasonable prospect of the debt being paid in the near future so that the petition should be adjourned. It appeared that G had in the region of £113,000-£118,000 of equity in the property, which he jointly owned with his bankrupt partner, and that the property was for sale...

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