From The Debt Advice Bureau:
Bad News For Bad Faith Bankrupts
A growing number of bankrupts are being targeted for Bankruptcy
Restrictions Orders (BROs) as Official Receivers pursue those
bankrupts who are believed to have acted in bad faith and contributed
to their bankruptcy, according to figures released today.
Anyone thinking they can rack up loads of debt and use bankruptcy as
an easy way to walk away form their responsibilities needs to think
again. “The screw is tightening on those who have been guilty of
misconduct”, says Desmond Flynn, Inspector General and Agency
Chief Executive of the Insolvency Service.
In the six months to September 2005, 165 people have been made
subject to BROs or Bankruptcy Restrictions Undertakings (BRUs) for
periods ranging from 2 to 11 years. In addition, the Secretary of
State has issued directions to take p…