Comparison table of personal insolvency processes for dispute resolution practitioners
Comparison table of personal insolvency processes for dispute resolution practitioners

The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:

  • Comparison table of personal insolvency processes for dispute resolution practitioners
  • Note

Note

This table provides a summary of individual personal and debt management processes from a dispute resolution perspective.

Name of process Nature of process Effect on court proceedings
Bankruptcy. See Practice Note: Personal insolvency for dispute resolution practitioners: bankruptcy A formal court process in which the debtor is released from debts they owe and a trustee in bankruptcy is (usually) appointed to realise the assets comprising the bankruptcy estate and pay a dividend to creditors if there are sufficient realisations. An undischarged bankrupt cannot act as director of company, or take part in certain other roles, without leave of the court and cannot obtain credit above £500 without first declaring that they are an undischarged bankrupt. Process is commenced by a creditor presenting a bankruptcy petition at court, or the debtor making a bankruptcy application determined by an adjudicator.