- In a nutshell, the court can make a bankruptcy
restrictions order (BRO) against an individual if the official receiver suspects
that they have been dishonest or are to blame for their debts, for example if
an individual borrowed money that they could not repay, if they neglected their
business interests and their debts increased or if they sold assts for less than
their value.
During this session Rachel Coyle of 36 Civil (The 36
Group) will provide viewers with an overview of the bankruptcy restrictions
regime as set out in section 281A and Schedule 4A of the Insolvency Act 1986
(IA 1986) and will ensure that viewers understand the differences between
bankruptcy restrictions orders (BROs), bankruptcy restrictions undertakings
(BRUs) and interim BROs (IBROs).
This is a practical session and guidance will be
offered in respect of the following:
·
Grounds for making a bankruptcy
restrictions order
o
Applicants for a bankruptcy restrictions
order
o
Time limit for making application
·
Interim bankruptcy restrictions orders
o
Duration of an interim bankruptcy
restrictions order
·
Bankruptcy restrictions undertakings
o
Duration of a bankruptcy restrictions
undertaking
·
Effect of an annulment of a bankruptcy
order on a bankruptcy restrictions order under section 282(1)(a)
·
Effect of an annulment in under the
Insolvency Act 1986 and under section 261 or 282(1)(b) of the Insolvency Act
1986
·
What the register of bankruptcy
restrictions orders is
·
What happens if there is breach of a
bankruptcy restrictions order or undertaking