Supreme Court rules against the McCanns in damages case.

[Mr Gray]

You seem obsessed with bankruptcy. Your house can certainly be sold under certain conditions. Anyone contemplating it as a solution to their debt problems needs to think carefully.
https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/bankruptcy-2/is-bankruptcy-right-for-you/

If the debt was passed to the English High Court I assume they could make an attachment of earnings order just like any court if required.

Of course your house may be sold but not necessarily
Bankruptcy may be an option

Bankruptcy would also prevent amaral from suing for damages

[jassi]

Yes, like paying up   

[Eleanor]

The McCanns don't appear to have any assets, and the house will be very close to negative equity, even less if it is put up for auction.

[Mr Gray]

The McCanns don't appear to have any assets, and the house will be very close to negative equity, even less if it is put up for auction.

The house would be valued on a forced sale value
If there is little or no equity they can keep it

[Eleanor]

The house would be valued on a forced sale value
If there is little or no equity they can keep it

Putting it on the open market with virtually no extra value isn't a good idea either.  That could take years, and the house bandits are forever looking for a bargain.

Perhaps someone on this forum would like to make a large offer.

[G-Unit]

The McCanns don't appear to have any assets, and the house will be very close to negative equity, even less if it is put up for auction.

How do you know what they have and the state of their mortgage? They may have loads in the bank and have paid their mortgage off.

[jassi]

Isabel won't be best pleased if they were to weasel out of paying her fees.

[Alice Purjorick]

Is it not?  I thought the McCanns were going to be bankrupted by Amaral which puts potentially puts their home at stake, yah?

I would have thought Sr Amaral is the least of their worries at the moment.
If there are insufficient funds to satisfy the court they will be debtors to the court. That is a totally different game.
Then of course there is Dra Duarte to be appeased but quite where everyone will appear in the pecking order is to be seen. The Court will be on top of the heap though and they hold the power.

[jassi]

I would have thought Sr Amaral is the least of their worries at the moment.
If there are insufficient funds to satisfy the court they will be debtors to the court. That is a totally different game.
Then of course there is Dra Duarte to be appeased but quite where everyone will appear in the pecking order is to be seen. The Court will be on top of the heap though and they hold the power.

Too right, though in their mind  he will remain the cause of all their ills for many years.

[Mr Gray]

I would have thought Sr Amaral is the least of their worries at the moment.
If there are insufficient funds to satisfy the court they will be debtors to the court. That is a totally different game.
Then of course there is Dra Duarte to be appeased but quite where everyone will appear in the pecking order is to be seen. The Court will be on top of the heap though and they hold the power.

owing money to court is not a different game.....if they dont have it thats it

[Alice Purjorick]

owing money to court is not a different game.....if they dont have it thats it

It is. Once the courts man is in he has the power to "Leave No Stone Unturned", as one might say, in his quest for assets. Your argument is overly simplistic.

By the way this argument has been going this pm it would appear that the supporters will see it as a major victory if their heros are made homeless and penniless as long as they don't pay out to anything Portuguese.
La la la

[Mr Gray]

It is. Once the courts man is in he has the power to "Leave No Stone Unturned", as one might say, in his quest for assets. Your argument is overly simplistic.

By the way this argument has been going this pm it would appear that the supporters will see it as a major victory if their heros are made homeless and penniless as long as they don't pay out to anything Portuguese.
La la la

the court man has no more power than any other debtor apart from being at the top of the list

[G-Unit]

owing money to court is not a different game.....if they dont have it thats it

The High Court Enforcement Officers will make sure they either get the full amount or a payment plan. Default on that and they will be back.

[G-Unit]

the court man has no more power than any other debtor apart from being at the top of the list

He has the power to take your goods and sell them.

[Alice Purjorick]

the court man has no more power than any other debtor apart from being at the top of the list

If it is an enforced bankruptcy he has ultimate power.......... and  the court can enforce the bankruptcy if their bill is not paid and see G-Units earlier post about transfer of debt.