Bankruptcy in Europe and the European Union

Are you now living in Europe but still have your old UK debts? If so, the first thing to realise is that the Bankruptcy law applicable to ex-UK residents living in a European Country is vastly different to the laws that apply when you live outside of Europe.

To make matters more confusing are you living in Europe, a European Union Country or both?

To clarify things there are 27 member states within the European Union. If you live in one of these states the law is fairly straightforward-you have around three months in which to file for your bankruptcy before it would no longer be accepted by a UK Court. Once you exceed three and a half months in that Country you would be directed to declare yourself bankrupt through the local Court, whether that is Spanish or German Court this is where you would be directed to.

Time limits in Bankruptcy

As previously mentioned, the main difference in relation to Bankruptcy from an EU state is the time limit that you have once you have moved overseas. If you move to a non-European Country you have a time limit of three years in which to file for bankruptcy. If you have moved to an EU State you have around three months to file for your bankruptcy.

When you live in a European Country the Court will look at what is called your "Centre of Main Interest" or COMI. This is dictated by where you have lived for the greater part of the last six months. Once you have lived in France or Spain (for instance) for four months you cannot then go bankrupt through the English Court system-you would be directed to go bankrupt via a European Court.

Unfortunately we do not handle cases where a person lives in an EU state. We can, if you return to the UK, prepare your bankruptcy and after your Centre of Main Interest changes from Europe back to England you can then file for Bankruptcy. This would be handled through the County Court local to where your UK address is.

There is also nothing to stop you returning back to the European Country that you have lived in, after the bankruptcy has been approved in the UK. You must, of course, deal with any enquiries that the Official Receiver has before you do this, but as long as you are clear in your intentions there should be no problem doing this.

This is, in many cases, the best option for people that are living in a European State and need to declare themselves bankrupt.

Assisted Bankruptcy in a non EU State within Europe

 We can help you if you live outside of the European Union but within Europe. If you live in one of the 19 non member states you fall under different laws with regard to Insolvency.

Due to the constantly changing nature of Europe and the associated bankruptcy legislation we recommend contacting our company to discuss your particular situation.

Feel free to speak with one of our advisors or complete our short questionnaire.

Are you living in a member state?

The member states are as follows; Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and finally the United Kingdom.

European Non-Member States

The non member states are as follows; Albania, Andorra, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Georgia, Iceland, Liechtenstein, Moldova, Monaco, Montenegro, Norway, Russia, San Marino, Serbia, Switzerland, Ukraine and Vatican City State.