|
Bankruptcy Restrictions: breakdown by financial year |
2008-09 |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
|
Bankruptcy Restriction Undertakings accepted |
4 |
11 |
19 |
26 |
32 |
29 |
16 | 17 |
|
Bankruptcy Restriction Orders granted |
0 |
1 |
4 |
4 |
8 |
23 |
53 | 96 |
What are Bankruptcy Restrictions?
- Bankruptcy Restrictions were introduced by legislation on 1 April 2008 and impose certain restrictions where there has been a level of misconduct by the debtor either before or after the date of bankruptcy, as described in section 56B of the Bankruptcy (Scotland) 1985 Act and section 156 of the Bankruptcy (Scotland) Act 2016.
- Bankruptcy Restrictions can take the form of a Bankruptcy Restriction Undertaking (BRU) where the misconduct is accepted by the debtor, or a Bankruptcy Restriction Order (BRO) which is imposed on the debtor by a Sheriff. The restrictions remain in force after the date of discharge for periods varying between two and 15 years, depending upon the severity of the misconduct.
- Further information
When a BRU/BRO is granted and the restrictions are imposed on the debtor, the details of the BRU/BRO and the debtor are recorded in the Register of Insolvencies (RoI). The RoI is a public record which records details of all individuals who are bankrupt and who have granted Protected Trust Deeds in Scotland, as well details of insolvent companies in Scotland. Access to the RoI is free.
AiB also records a full list of Current Bankruptcy Restriction Orders and Undertakings. More serious cases of misconduct can be reported in the press.
A Bankruptcy Restrictions Guide is available, which can be viewed on our website or sent out on request.
Further information is available on legislation around Bankruptcy Restrictions including types of misconduct and dishonesty which can result in a debtor having a BRO or BRU imposed.