Bankruptcy Restrictions Order

Bankruptcy Restrictions Order (BRO)

order made to protect the public and the commercial community from bankrupts whose conduct before and during bankruptcy has been found to be culpable.
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In February this year, the County Court at Cardiff made a bankruptcy restrictions order against him for 12 years.
He has been given a Bankruptcy Restrictions Order - generally handed to bankrupt people accused of dishonesty.
Restrictions are only triggered if an individual is made subject to a bankruptcy restrictions order or debt relief restrictions order.
Although a Bankruptcy Restrictions Order can be imposed to extend the restrictions of bankruptcy for between two and 15 years for culpable behaviour, a BRO does not increase the bankruptcy term.
Last month O'Shea was banned from running a business for four years after a bankruptcy restrictions order was placed against him at Gloucester County Court.
And if you were judged to be a "reckless" bankrupt, the details of a Bankruptcy Restrictions Order could stay on your record for as long as 15 years.
Although a Bankruptcy Restrictions Order (BRO) can be imposed to extend the restrictions of bankruptcy for between two and 15 years for culpable behaviour, a BRO does not increase the bankruptcy term.
Last month, O'Shea was banned from running a business for four years after a bankruptcy restrictions order was placed against him at Gloucester County Court.
However, a new Bankruptcy Restrictions Order regime has been introduced under which discharged bankrupts can be subjected to continuing restrictions for up to 15 years.
She was made a bankrupt in August 2004, and has now been made subject to a bankruptcy restrictions order for a seven years.
A bankruptcy restrictions order that runs until June 18, 2011 was filed against O'Shea at Gloucester County Court last month after he was declared bankrupt in October.
The court has powers to make disqualification orders, bankruptcy restriction orders, interim bankruptcy restrictions orders and bankruptcy restriction undertakings where the court makes a formal bankruptcy order against the debtor under the Personal Over-Indebtedness Procedure.