After the making of a bankruptcy order, the Trustee will investigate various matters including the reasons for the bankruptcy. If the Trustee considers that the bankrupt has acted inappropriately or is in some other way responsible for their bankruptcy, application may be made to the Court (or undertakings requested) for a BRO (schedule.4A Insolvency Act 1986) which orders that the restrictions imposed during the bankruptcy continue to apply after discharge for a period of between two to fifteen years.
The following are examples of the kinds of behaviour which the court may consider warrant a BRO being imposed:-
(a)failing to keep proper business records;
(b)failing to produce records;
(c)entering to transactions at an undervalue (see Transactions at an Undervalue);
(d)giving a preference (see Preferences);
(e)making an excessive pension contribution;
(f)a failure to supply goods or services which were wholly or partly paid for which gave rise to a claim payable n the bankruptcy;
(g)fraud or breach of trust;
(h)failing to cooperate with the official receiver or trustee
The list is not intend to cover every possible ground for making a BRO but FDL Solicitors has extensive experience in opposing applications for BRO’s and are happy to advise on any particular circumstances that may arise.
An initial no obligation telephone discussion is free, so why not call or email David Cousen.
T: +44 (0)161 833 0578
E: david.cousen@fdl-law.co.uk
