Everyone dreads being unable to pay bills but for an unlucky few debt problems can become a life-consuming reality in which bankruptcy may be the best (or only) route out. Bankruptcy is a legal status that, in certain circumstances, may provide the...
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Case Study – Bankruptcy Restrictions Order. 12-year bankruptcy restriction given after man received £8.5million from investors for failed spread betting scheme. What is a Bankruptcy Restriction Order (“BRO”)? Firstly what is a bankruptcy...
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Bankruptcy Restriction Orders (“BROs”) Introduction A BRO can be applied for within one year of the Bankruptcy Order being made or after one year with the permission of the Court. Only the Official Receiver or the Secretary of State can...
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The September issue of the Bretts Business Recovery newsletter is out now. Packed full with the latest business and insolvency news. To see a copy on-line please click here. Alternatively if you would like to receive our newsletter each month by...
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The High Court granted Bankruptcy Restriction Order for 11 years for a Assistant Accountant, Kofi Baffoe-Okine (30), who misappropriated €160,510 from his employer. A bankruptcy order was made against Baffoe-Okine on 1st July 2015, following a...
Read more...If the official receiver considers that a bankrupt has acted dishonestly, or is blameworthy in some other way i.e. excessive gambling, they will report the facts to court and ask it to make a BRO. The court will consider this report and any other...
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