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A creditor or creditors may also petition for a bankruptcy order to be made against an individual debtor. Before a creditor presents a bankruptcy petition he must usually first serve on the debtor a statutory demand in one of the prescribed forms [1] requiring the debtor to pay the sum claimed within 21 days of service of the demand. The debtor ...
English: An Act of the Scottish Parliament to consolidate the Bankruptcy (Scotland) Act 1985, the Bankruptcy (Scotland) Act 1993, Part 1 of the Bankruptcy and Diligence etc. (Scotland) Act 2007, Part 2 of the Home Owner and Debtor Protection (Scotland) Act 2010, the Bankruptcy and Debt Advice (Scotland) Act 2014, the Protected Trust Deeds (Scotland) Regulations 2013 and related enactments.
Since the 1970s, particularly from the time of the Bankruptcy Reform Act of 1978 in the United States, and since the Insolvency Act 1986 in the UK, two broad strands of thought emerged. The first and very prominent view, stemming primarily from work by Thomas H. Jackson and Douglas Baird is known as the "creditors' bargain model". [ 222 ]
Administration in United Kingdom law is the main kind of procedure in UK insolvency law when a company is unable to pay its debts. The management of the company is usually replaced by an insolvency practitioner whose statutory duty is to rescue the company, save the business, or get the best result possible.
Original file (1,212 × 1,993 pixels, file size: 285 KB, MIME type: application/pdf, 4 pages) This is a file from the Wikimedia Commons . Information from its description page there is shown below.
a current bankruptcy restrictions order or undertaking; a current debt relief restrictions order or undertaking; an interim order; a current pending debtor's bankruptcy petition in relation to the debtor but the debtor has not been referred to the DRO procedure by the court as a more suitable method of debt relief;
The Statute of Bankrupts or Bankruptcy Act 1542 (34 & 35 Hen. 8. c. 4), was an act passed by the Parliament of England in 1542. It was the first statute under English law dealing with bankruptcy or insolvency. It was repealed by section 1 of the Bankruptcy Act 1825 (6 Geo. 4. c. 16).