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English to Arabic translations [PRO]
Bus/Financial - Finance (general) / bankruptcy | | English term or phrase: bankruptcy restriction order | | The court may make a bankruptcy restrictions order imposing certain restrictions on the debtor's activities as the court may decide in its discretion for a specified period of time. |
| | | أمر قضائي بفرض قيود على المفلس | Explanation:
What is a Bankruptcy Restrictions
Order (BRO)?
If the official receiver considers that a bankrupt has
acted dishonestly, or is blameworthy in some other
way, they will report the facts to court and ask it to make
a BRO. The court will consider this report and any
other evidence put before it, and will decide whether it
should make a BRO. If it does, you will be subject to
certain restrictions for the period stated in the order.
This can be from 2 to 15 years.
What are the restrictions?
The restrictions are wide ranging. They include the
restrictions set out in insolvency law which you are
subject to when you are made bankrupt and which are
normally lifted when you are discharged from
bankruptcy. These restrictions include the following:
• You must disclose your status as a person
subject to bankruptcy restrictions to a credit
provider if you wish to get credit of £500 or more.
• If you carry on business in a different name from
the name in which you were made bankrupt, you
must disclose to those you wish to do business
with the name (or trading style) under which you
were made bankrupt.
• You may not act as the director of a company or
take part in its promotion, formation or
management unless you apply to the court for
permission to do so.
• You may not act as an insolvency practitioner, or
as the receiver or manager of the property of a
company on behalf of debenture holders.
• You may not be a Member of Parliament in
England or Wales. |
| Selected response from:
  Taghreed Mahmoud
Egypt
Local time: 06:26
| Grading comment THank you
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18 hrs confidence: أمر قضائي بفرض قيود على المفلس
Explanation:
What is a Bankruptcy Restrictions
Order (BRO)?
If the official receiver considers that a bankrupt has
acted dishonestly, or is blameworthy in some other
way, they will report the facts to court and ask it to make
a BRO. The court will consider this report and any
other evidence put before it, and will decide whether it
should make a BRO. If it does, you will be subject to
certain restrictions for the period stated in the order.
This can be from 2 to 15 years.
What are the restrictions?
The restrictions are wide ranging. They include the
restrictions set out in insolvency law which you are
subject to when you are made bankrupt and which are
normally lifted when you are discharged from
bankruptcy. These restrictions include the following:
• You must disclose your status as a person
subject to bankruptcy restrictions to a credit
provider if you wish to get credit of £500 or more.
• If you carry on business in a different name from
the name in which you were made bankrupt, you
must disclose to those you wish to do business
with the name (or trading style) under which you
were made bankrupt.
• You may not act as the director of a company or
take part in its promotion, formation or
management unless you apply to the court for
permission to do so.
• You may not act as an insolvency practitioner, or
as the receiver or manager of the property of a
company on behalf of debenture holders.
• You may not be a Member of Parliament in
England or Wales.
Reference: http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/bro.pd...
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