Obtaining Possession Orders & Orders for Sale - Best Practice & Procedure

Introduction

Over the last 18 months, there has been a noticeable rise in debt that has arisen because of (amongst other things) business closures, furlough, and unemployment.

As a result of COVID-19 and the continuing struggles and difficulties that both businesses and individuals face, many debtors are not currently cash-rich, and so this has meant that more and more creditors are seeking to secure debt by way of charging orders; thus, ensuring that their debt is protected, secured, and ready to be enforced later down the line.

Charging orders are a great way to secure debt, however it can be the case that once obtained, an order of sale can become necessary to release actual monies; specifically in instances of repossession when it is likely that debtors will never be able to physically pay their debts.

Whilst many debt recovery specialists and legal practitioners are familiar with the charging order process, not so many feel confident when faced with the subsequent order for sale - the process by which a property is sold to realise monies on behalf of any secured creditors.

This new virtual classroom seminar is most suitable for practitioners in the debt recovery field who already have at least a basic understanding and knowledge of both the charging order and order for sale procedures.

Whilst the course will include some reference to the basic order for sale process, it will concentrate on more intricate matters found within the procedure.

The session will focus on the current financial climate and how practitioners can make the most of the order for sale and enforcement processes to ensure the best outcome for their clients.

What You Will Learn

This live and interactive session will cover the following:

• Preliminaries of the order for sale, including information requirements in accordance with CPR 71 and CPR PD 73
• Completion of the Part 8 Claim form, witness statements and associated evidence necessary when submitting the order for sale application
• A detailed look at the discretion of the Court, and the orders that can be made following the order for sale hearing
• Suspension of an order, appealing an order, and failure of an order
• Distribution of assets and monies following a sale
• Recent case law updates

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.