This site uses cookies; by continuing to use our site you agree to our use of cookies. More details in our privacy policy. Close

 

 

Bankrupt given 10 year BRO 16 July 2013

A Canterbury man has been handed a 10 year Bankruptcy Restriction Order (BRO) for failing to disclose assets and property transfers.

Mark Phillimore was handed the BRO at Canterbury County Court. The order will run until 5 April 2023 and will be subject to the restrictions imposed on bankrupts, in addition to certain other restrictions, for that period.

Brian Inglis, official receiver for Canterbury County Court, said: “People who are bankrupt are required to make full disclosure regarding their assets, including any recent disposal of property to the official receiver and any trustee who may be subsequently appointed.

“In this case, Mr. Phillimore failed to disclose significant assets. The Insolvency Service will take action against bankrupts who fail to meet their obligations.”

Phillimore was made bankrupt on 2 March 2010 with a debt of £705,746.

The investigation found he failed to disclose significant assets to the official receiver or the trustee in bankruptcy.

These assets included his beneficial ownership of a company registered in the British Virgin Islands, the net assets of which total approximately £550,000.

Following the BRO being issued, Phillimore transferred his interest in the company to a third party.

He also failed to disclose his transfer of property worth approximately £90,000 to a third party in June 2009.

 

 

blog comments powered by Disqus