We were approached by a client looking for debt advice. Following a meeting with us, he advised that he wished to make an application for Sequestration. Our client was under creditor pressure and had been served with documents threatening to petition for his Sequestration.
We assisted our client with a moratorium. This was to successfully provide him with a breathing space for a period of up to 6 weeks and protect him from sequestration whilst we assisted him with his own application for sequestration to the Accountant in Bankruptcy.
As a result of which, no creditor was able to take any action and shortly after submitting the application to the Accountant in Bankruptcy the award was made and Claire Middlebrook was appointed as Trustee.
Once appointed, we contacted the creditors and advised them of the Trustees appointment and that all future correspondence should be directed to Middlebrooks office.
The debtor immediately felt a weight had been lifted as he no longer had to deal with demands for payment from his creditors.