What is an Overseas Bankruptcy Search

An overseas bankruptcy search refers to the process of investigating whether an individual or a company has declared bankruptcy or undergone insolvency proceedings in a foreign jurisdiction. It is typically conducted when there is a need to assess the financial history or potential risks associated with a person or entity involved in cross-border transactions, such as international investments, business partnerships, or legal proceedings.

Probate solicitors, who handle matters related to the distribution of a deceased person's estate, may conduct an overseas bankruptcy search in certain situations.

When administering an estate, probate solicitors have a legal obligation to identify and pay off any outstanding debts or liabilities of the deceased before distributing the remaining assets to the beneficiaries. If the deceased had any overseas financial connections or owned assets in foreign countries, the solicitor may conduct an overseas bankruptcy search to determine if there are any outstanding bankruptcy proceedings that could affect the distribution of the estate.

By conducting an overseas bankruptcy search, probate solicitors can ensure that they have a comprehensive understanding of the deceased person's financial situation, including any potential claims or liabilities from foreign jurisdictions.

This search helps protect the interests of the beneficiaries and ensures that the estate is distributed in accordance with the applicable laws and regulations, both domestically and internationally.

Harrisons Probate Solutions have assisted Solicitors in searches around the globe and continue to add new countries to our search list.

Given the complexity of some searches quotes are provided on request.