Bankruptcy I and II
Bankruptcy I and II
- 1987
- Estates Gazette 284(6354) 3 October 1987, 76-78 .
In the Mainly for Students series, the article discusses the law of bankruptcy in so far as it affects an individual`s financial responsibilities. Under Part VIII of the Insolvency Act 1986 a person who runs out of money may make voluntary arrangements whereby he can apply to court for an interim order, which, if granted, will give the debtor 14 days to draw up a statement of his affairs in order to put his proposal to his creditors. Describes the first stage in bankruptcy proceedings which is the presentation of a petition to court. Continues with a resume of the time periods involved in the discharge of bankruptcy and considers the fate of the bankrupt`s estate and family home.
In the Mainly for Students series, the article discusses the law of bankruptcy in so far as it affects an individual`s financial responsibilities. Under Part VIII of the Insolvency Act 1986 a person who runs out of money may make voluntary arrangements whereby he can apply to court for an interim order, which, if granted, will give the debtor 14 days to draw up a statement of his affairs in order to put his proposal to his creditors. Describes the first stage in bankruptcy proceedings which is the presentation of a petition to court. Continues with a resume of the time periods involved in the discharge of bankruptcy and considers the fate of the bankrupt`s estate and family home.