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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

26 AUG 2013

Re Kapoor (In Bankruptcy); Hellard v Kapoor [2013] EWHC 2204 (Ch)

(Chancery Division, Penelope Reed QC (sitting as a deputy judge of the High Court), 25 July 2013)

Despite his bankruptcy, K lived in a flat in South Kensington and drove luxury cars. He was not fully forthcoming with details as to how his lifestyle was funded. Further, he did not provide full details as to a family trust, shareholdings and bank accounts. Penelope Reed QC (sitting as a deputy judge of the High Court) suspended K’s discharge on the application of the trustee in bankruptcy. Whilst the mere fact of K’s lifestyle could not found an application, because the court had to act on the basis of evidence, not suspicion, there was sufficient evidence from K’s unsatisfactory answers for the court to conclude that the threshold requirement that K had failed, or was failing, to comply with his obligations under the Insolvency Act 1986 were not being complied with. Since K had been more compliant since the application to suspend was issued, a period of suspension until May 2014 would encourage further compliance.

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