"Bankruptcy/Trust Deed/Administration"

A review of Capri Skies by Miffed Bride written on Friday 12th of June 2009

Hi Everyone

I am a bride to be who also works in Bankruptcy, Trust Deed and Administration.

So here are the facts regarding the Camerons.

The company CANNOT be liquated or go into Administration because it is not a LTD company.

However what can happen

1. Is the companies that are owed money( for eg Venus) can petion for Capri Skies bankruptcy. Which can take a month.

2. The Cameron's petion for their own bankrupty which can take a week.

3. The Cameron's take out a trust deed which lasts for 3 years. Any Insolvency Practioner will only take this option on if there are any Assets ie a House, left over stock that can be sold.

Also to let you guys know Bankruptcy now only last for 1 year then they are free to trade again!

Trust Deed last for 3 years.

Hope this explain things abit better of how the procdure will work.

Miffed Bride.

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