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Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 10585
Experience:  Solicitor
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If you are made bankrupt in the UK: 1/ are you still allowed

Customer Question

If you are made bankrupt in the UK:
1/ are you still allowed to be a shareholder and director of a European company outside the UK while undischarged?
2/ do you have a duty to declare share ownership of european companies outside the UK when interviewed by the OR?
Submitted: 10 months ago.
Category: Law
Expert:  Jamie-Law replied 10 months ago.

Hello my name is ***** ***** I will help you with your question today. I am reviewing it, please give me a moment.

Expert:  Jamie-Law replied 10 months ago.

1) No, as it covers the proceedings in the whole of the EU

2) Yes, you need to declare it. Otherwise, if you do not then you could be prosecuted.

You have an obligation to give frank and full disclosure.

If they find out later you lied, then you could end up in the Criminal Court.

Can I clarify anything for you about this today, please?

If not, I would appreciate a 5-star rating for my answer. If you need anything further I am available for a follow up at no extra cost.

Customer: replied 10 months ago.
Ok and finally is there a statutory time period after which time a bankruptcy case can not be re-opened or examined much like some other debts?
Expert:  Jamie-Law replied 10 months ago.

No. If its fraud they can always re-open. But generally, if it is a normal bankruptcy once discharged, that is it.

Does that assist?