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Debtor Guide - Bankruptcy

This guide provides general advice on bankruptcy for people who have been made bankrupt

Bankruptcy Restriction Orders (BRO)

If your trustee considers your conduct has been dishonest or blameworthy in some way, either before or during your bankruptcy, they will report this to AiB. AiB will consider the evidence provided and decide whether a BRO is appropriate.

The following are examples of behaviours that could be considered dishonest or blameworthy:

  • incurring debts you knew you had no reasonable chance of repaying
  • giving away assets or selling them at less than their value
  • gambling or making rash speculations or being unreasonably extravagant
  • not cooperating with your trustee during the period of your bankruptcy

This is not a full list of the bankruptcy restrictions which may be placed on you. 

AiB can award a BRO for a minimum of two years and up to five years. If AiB feel a longer term BRO is appropriate they will request the sheriff impose a BRO for between five and fifteen years.

You will remain subject to certain restrictions for the period stated in the BRO even after you are discharged from your bankruptcy. Your details will remain on the ROI for one year after your BRO ends. You are committing a criminal offence if you fail to comply with the terms of your BRO.

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