Applications for Suspension of Discharge from Bankruptcy - A Bite-Sized Guide to Best Practice

Introduction

Under the Insolvency Act 1986, discharge from bankruptcy is now an automatic occurrence 12 months after the making of the bankruptcy order.

Discharge frees a bankrupt from after-acquired property falling into their bankruptcy estate, can act as a director of a company, can obtain credit, and is free from potential prosecution for criminal bankruptcy offences.

The official receiver and/or trustee in bankruptcy may apply to suspend this discharge, which will preserve the prejudicial impact of the bankruptcy on the bankrupt.

This short webinar will explore the suspension from discharge application, its purpose, and how one should make such an application or resist it.

These types of applications are regularly seen in court and are often contested.

What You Will Learn

This webinar will cover the following:

• Discharge from bankruptcy in general:
• What is discharge, and what used to happen?
• What are the negative impacts of bankruptcy pre-discharge, and what is the impact of discharge?
• Applying for suspension of discharge:
• Who has standing to make an application?
• What is the purpose of suspension of discharge of bankruptcy?
• What kind of order can be sought from the court, on what terms, and for how long?
• How will the court approach the application and making a decision?
• Procedural elements:
• Timing of the application - interim and final orders
• How is an application made, and what documents are necessary?
• What about costs?

This webinar was recorded on 2nd April 2024

You can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.