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Law Governing Bankruptcy

Bankruptcy Personal Insolvency in Ireland Christopher Lehane Official Assignee in Bankruptcy Court Service. Law Governing Bankruptcy. Bankruptcy Act 1988 amended Part 4 P I Act Rules of the Superior Court (Order 76 and Appendix 0) and ISI Min. Regulation - S 3 Act

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Law Governing Bankruptcy

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  1. Bankruptcy Personal Insolvency in IrelandChristopher LehaneOfficial Assignee in BankruptcyCourt Service

  2. Law Governing Bankruptcy • Bankruptcy Act 1988 amended Part 4 P I Act • Rules of the Superior Court (Order 76 and Appendix 0) and ISI Min. Regulation - S 3 Act • European Union Insolvency Regulation as implemented by Statutory Instrument No 334/2002 • High Court Fees Order – ISI Min Regulation

  3. Bankruptcy Jurisdiction • High Court – Exclusive jurisdiction for all bankruptcy matters • Bankruptcy list deals with all matters relating to bankruptcy, e.g. • Payment of Dividends • Granting of summons, petitions, adjudications • Applications during course of bankrutpcy • Compositions, applications for discharges, etc.

  4. Roles and Responsibities • Office of Examiner of the High Court – Deals with all pre bankruptcy matters, filing of Court Applications, Bankruptcy Register • Office of the Official Assignee in Bankruptcy – Once the adjudication order is made by the Court

  5. Official Assignee An officer of the Court whose task is to: • Identify, recover and sell the bankrupt’s assets • Determine the extent of bankrupt’s liabilities and the status of various debts • Distribute the proceeds amongst creditors by way of payment of a dividend All property of a bankrupt vests in the Official Assignee from the date of adjudication Almost all bankruptcies are administered by the Official Assignee rather than a private trustee

  6. Paper I 1.Process of applying for bankruptcy 2. Requirements to petition for bankruptcy 2.1 Debtor 2.2 Creditor 3. Consequences of being adjudicated bankrupt 3.1 Person 3.2 Debts 3.3 Assets 3.4 Income

  7. Bankrutpcy 4. Discharge from bankruptcy 5. Costs 6. Appendices A. Part 4 – Personal Insolvency Act 2013 B. Order 76 Rules 10 – 49 Rules Superior Cts C. Glossary of Bankruptcy Terms D. Official Assignee Office Move Notice

  8. Bankruptcy PAPER 2 – SECURED CREDITORS PAPER 3 – PERSONAL INSOLVENCY ACT

  9. Bankruptcy Questions?

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