Interim bankruptcy restrictions order meaning

Bankrupt's conduct In determining whether to impose a bankruptcy restrictions order (BRO), the court examines the bankrupt’s behaviour. This typically covers actions that resulted in their inability to meet debts, though the court may take into account any behaviour, occurring before or after the bankruptcy. For guidance on who may bring the application, and the timing and procedure, see Practice Note: Bankruptcy restrictions orders (BROs). Under the Insolvency Act 1986 (IA 1986), a range of behaviours by the bankrupt is set out that the court may weigh when deciding whether a BRO is justified...

A bankrupt is discharged from bankruptcy one year after the bankruptcy begins, unless the court suspends that discharge because the bankrupt has failed to co-operate with the official receiver (OR) or the trustee in bankruptcy (trustee) (IA 1986, s 279). On discharge, the disqualifications and restrictions that apply to an undischarged bankrupt come to an end. For further detail on those disqualifications and restrictions, see Practice Note: The immediate effects of a bankruptcy order on the bankrupt. What is the bankruptcy restrictions regime and why was it introduced? In cases where bankruptcy is not the product of honest misfortune, but arises from the bankrupt’s misconduct or recklessness, it is regarded as appropriate that the bankruptcy disqualifications and restrictions should continue for longer than one year, to protect the public interest and act as a deterrent. Accordingly, the Enterprise Act 2002 (EnA 2002) introduced a new section (IA 1986, s 281A) and a Schedule (IA 1986, Sch 4A) into the IA 1986, so that, from 1 April 2004, the...

This Practice Note considers undertakings in the context of interim injunctions This Practice Note explores undertakings within the setting of interim injunctions. For guidance on undertakings given other than in that context, see: Undertakings—overview concerning solicitors’ undertakings Practice Note: Undertakings (covenants) for contractual undertakings in a banking context Practice Note: Enforcement of undertakings which concerns enforcement of undertakings in a family law context Bankruptcy restrictions orders and undertakings—overview for bankruptcy undertakings It addresses interpretation and practical use of the relevant provisions of the CPR. Depending on the court seised of your case, additional requirements may apply—see the court specific guidance below. For general material on interim injunctions, consult: Interim injunctions—the American Cyanamid guidelines Interim injunctions—on notice applications Interim injunctions—without notice applications Interim injunctions—drafting the order Unless otherwise indicated, the authorities and issues discussed chiefly concern undertakings associated with applications for a general interim injunction. The core principles, however, broadly extend...