If his company goes backrupt

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phil.g

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Post by phil.g » Wed Oct 03, 2007 12:25 pm
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We have brought a house in Italy with my brother in law. If his company goes backrupt, can they force us to sell the house
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Adam Davies

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Post by Adam Davies » Wed Oct 03, 2007 4:24 pm
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Hi
It will depend if his business is a ltd company or not and if the house was purchased with funds from the business,i;e a business asset.
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Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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phil.g

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Post by phil.g » Wed Oct 03, 2007 4:37 pm
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Thanks !
I will ask those questions and get back to you
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phil.g

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Post by phil.g » Thu Oct 04, 2007 9:14 am
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He did not get the money out of his business and his company is not limited
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Adam Davies

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Post by Adam Davies » Thu Oct 04, 2007 11:39 am
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Hi
Well if he goes bankrupt then his share of the house will belong to the official receiver as it will be deemed an asset,and yes he/she can force a sale
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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