RESTRICTIONS TO THE INSOLVENCY LAWS APPLIED FOR THE FIRST
A woman from Birkenhead has become the
first person to agree that she was guilty of 'unfit conduct' in the
period leading up to her bankruptcy. Mavis Doreen Williams has
accepted a Bankruptcy Restriction Undertaking (BRU) which will keep
bankruptcy restrictions in place for six years. The restrictions Ms
Williams must observe include disclosing her status as a bankrupt if
she wants credit of more than £500 for the next six years.
Ms Williams deliberately incurred debts she
had no prospect of repaying just before she petitioned for her own
bankruptcy, earlier this year. Ms Williams, the former owner of a
pub, called One O'Clock Gun, took out a £6000 loan, the proceeds of
which she gave to her three adult children. During the course of
investigating the reasons for her bankruptcy, the Official Receiver
in Liverpool discovered that she had repaid monies to her children
in preference to her other creditors and that she took out a £6000
loan at a time when she had no reasonable expectation of being able
to repay it.
Desmond Flynn, Insolvency Service, Inspector
General and Agency Chief Executive, said:- "The
Enterprise Act enables this sort of unreasonable behaviour to be
actively discouraged. The Official Receiver will always seek to
establish the reasons for any bankruptcy. During the course of those
investigations, dishonest or blameworthy individuals will be
identified and restrictions sought in order to protect potential
creditors from losses and act as a deterrent to others."
Changes to the insolvency laws, under the
personal provisions of the Enterprise Act 2002, came into force on
the 1 April 2004. Bankrupts are now automatically discharged after
one year instead of two or three years. However, in the most serious
of cases, a bankruptcy restriction order (BRO) could last for up to
1. The Insolvency Service administers the
insolvency regime investigating all compulsory liquidations and
individual insolvencies (bankruptcies) through the Official
Receiver, to establish why they became insolvent. We also authorise
and regulate the insolvency profession; deal with disqualification
of directors in corporate failures; assess and pay statutory
entitlement to redundancy payments when an employer cannot or will
not pay employees; provide banking and investment services for
bankruptcy and liquidation estate funds and advise ministers and
other government departments on insolvency law and practice.
2. Under the personal provisions to the
Enterprise Act, if an Official Receiver considers the conduct of a
bankrupt to be dishonest or blameworthy, he or she will report the
facts to the court and ask for a Bankruptcy Restriction Order (BRO)
to be made. The court will consider this report and any other
evidence put before it and decide whether or not it should make a
BRO which could last for a period of 2 to 15 years. The bankrupt may
offer the Secretary of State an undertaking (BRU) to be bound by the
restrictions for a specified period. This has the same effect as a
BRO (and the same consequences if breached) but means the case does
not go to court.
3. The restrictions apply to all bankrupts and
are lifted on discharge, however, for those subject to either a BRO
or BRU, the restrictions remain in place for the period of the order
or undertaking. They include: disclosing their status to a credit
provider if they wish to obtain credit of more than £500;
disclosing their status to potential business partners; acting as a
director, insolvency practitioner or receiver or manager. BROs and
BRUs are designed to protect the public and the business community
against bankrupts whose conduct has been irresponsible or reckless.
For more information about the work of The
Service see www.insolvency.gov.uk
Are you sitting comfortably? Then let's begin...
ROALD Dahl, Red Riding Hood, Harry Potter and the very Hungry Caterpillar will all come to life this week at Blessed Sacrament R.C. Infant School who were having a 'Book Week' to
encourage all 400 pupils to get into the reading habit.
Throughout the week pupils shared their favourite books with class mates and wrote their own stories and visit their local library to find out how it works.
The Lady Mayoress of Liverpool, Moira Roderick, readed an extract from Laura's Secret, by Klaus Baumgart, to youngsters at the school. The Lady Mayoress said:-
"I was honoured to be asked by Blessed Sacrament to take part in their Book Week. Whether you're young or old, reading is such an important part of education, and it's great to know that all the pupils are getting really involved."
The week was rounded off with a fancy dress parade when the children came dress up as their favourite character from a book.
Kathryn Lyons, Blessed Sacrament Infant School's assistant headteacher, said:-
"The children are having a wonderful time and all the activities they are taking part in are helping to enrich their story experience."
Partnership welcomes the news that Aintree
THE Mersey Partnership welcomes the news that Aintree has secured a new sponsor for the Grand National, one of Merseyside's, and the world's, great sporting events. Martin King, Director of Tourism at The Mersey Partnership, said:- "It's superb news that such a well known and prestigious brand from a blue-chip company has chosen to associate itself with one of Merseyside's greatest assets. John Smith's, which is famed for its creative and memorable marketing, has made a carefully considered decision to support the world's most famous steeplechase and we are looking forward to working together in the future for the benefit of the region."
"A Long and Lonely Road".
Review by Linda Byrne
WE have not had a book review for some
time now so with the dark nights now set in, we will be starting the
book reviews again. This week we took a look at a book called "A
Long and Lonely Road" writen by Katie Flynn. It is about to
be published as a paper back original by Arrow Books, on 18 November
2004, price £6.99. If you want the ISBN, email us and we will email
it to you.
Just in time for Christmas, this book would
make an admirable gift for anyone interested in social history in an
entertaining form. Katie Flynn is a best selling Liverpool writer
with flair. In this, her 17th novel, she has skilfully woven yet
another tale based on Liverpool, this time beginning at Christmas
Her characters are finely drawn, the settings
have an authentic feel and, unlike the products of some, the Scouse
dialogue is not overly contrived. The storyline is deftly developed
and not over elaborated and as such allows the reader's imaginative
scope to colour in the details.
"A Long and Lonely Road" follows
the life of young Rose McAllister, her sailor husband, Steve, her
two young daughters and their many associates. Initially set in
Liverpool as war approaches, the book affords a great insight into
the stresses and strains of that era. There are the inevitable
highlights and tragedies as the engrossing story evolves.
I found it hard to put this book down until
the very end. My only criticism, as is often the case, is that the
synopsis may give too much away for those who just prefer to let a
Highly recommended, of especial interest to
Liverpudlians, but certainly not exclusively so.