Bankruptcy Restrictions were introduced by legislation on 1 April 2008 and can be applied 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 Act. The restrictions remain in force after the date of discharge for periods varying between 2 and 15 years, depending upon the severity of the misconduct.
The following statistics provide a breakdown of the Lila anomalies reported and Bankruptcy Restriction Order submissions made to the Bankruptcy Restrictions Team during the first year of operation of the new legislation. The principal areas of alleged misconduct reported were non co-operation, fraud, gratuitous alienation, unfair preference and incurring further debt during the sequestration.
Statistics for 2008-09
A full list including details of current Bankruptcy Restriction Orders and Undertakings is also available to view.