- Sun Oct 03, 2004 9:45 pm
As part of a criminal case a judge in his sentencing make someone criminally bankrupt where the monies in question exceed £15,000. The person does not get the chance to voluntarily return the monies before the order is made. In fact in a conspiricy, if the amount in a fraud was £50,000 and say 4 people were involved then they can each be made criminally bankrupt for £50,000 each - I have alwys thought that strange. There is no appeal against a criminal bankruptcy unless the original conviction is overturned on appeal.
While in any bankruptcy it is considered a criminal offence to obtain credit of over £500 without declarng you are an undischarged bankrupt.
It is also a criminal offence to carry on business (directly or indirectly) in a different name from that in which you were made bankrupt without telling all those you do business with the name in which you were made bankrupt.
Or to be concerned (directly or indirectly) in promoting, forming or managing a company without the court's permission, whether formally appointed a director or not.
You may not hold certain public offices.
You may open a new bank or building society account but should tell them you are a bankrupt. They may impose conditions and limitations. You should ensure you do not obtain overdraft facilities or write cheques which are likely to be dishonoured or else (you guessed it) it will be a criminal offence.
Hope this answers the question.