Family law meets insolvency: protecting the home, balancing creditors

Charlotte Posnansky  Hanh Nguyen  Jamie Kennaugh  Francesca Heath-Clarke and Daniel Staunton  Charles Russell Speechlys LLP

This article explores the interplay between family law and insolvency law involving the family home usually the most valuable asset available to satisfy both financial remedy claims and creditor recoveries. We explore commonalities of approach by the family and insolvency courts. Both have similar policy aims namely to protect vulnerable innocent parties (usually spouses and children) where possible and have sought to do so through the enforcement of various statutory provisions and the development of equitable principles. These provisions and principles are all crafted to protect occupation rights or to assert ownership rights aiming to...