Accountant in Bankruptcy

Bankruptcy Restriction Guide Orders and Undertakings (BRO/BRUs)

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This booklet provides general information about restrictions that can be imposed on you and will continue after you have been discharged from your bankruptcy, as a result of your behaviour either before or during your bankruptcy. It is not intended as a full statement of the law on bankruptcy.

Contents

1. INTRODUCTION

2. WHAT IS A BANKRUPTCY RESTRICTIONS ORDER (BRO)?

2.1 What sort of behaviour can lead to a BRO?

2.2 What are the restrictions?

2.3 What happens if I am subject to bankruptcy restrictions and I do not comply with them?

3. WHEN CAN THE ACCOUNTANT IN BANKRUPTCY APPLY FOR A BRO?

3.1 How will I know if an application for a BRO has been made against me?

4. WHAT SHOULD I DO IF I DONT THINK BANKRUPTCY RESTRICITONS ARE APPROPRIATE?

5. WHAT IS A BANKRUPTCY RESTRICTIONS UNDERTAKING (BRU)?

6. WHAT HAPPENS IF THE ACCOUNTANT IN BANKRUPTCY APPLIES FOR A BRO?

7. WHAT IS AN INTERIM BRO?

8. WHAT HAPPENS AFTER BANKRUPTCY RESTRICTIONS ARE IMPOSED?

8.1 Can I amend the conditions of bankruptcy restrictions?

9. WHAT ARE THE COSTS INVOLVED WITH BANKRUPTCY RESTRICTIONS?

10. WHAT IF MY BANKRUPTCY IS RECALLED OR AN OFFER OF COMPOSITION IS ACCEPTED?

11. WHAT IS THE COMPLAINTS PROCEDURE FOR BANKRUPTCY RESTRICTIONS?

12. CONTACTS FOR INFORMATION