Bankruptcies

Bankruptcy is one way of dealing with debts you cannot pay. The bankruptcy proceedings:
�� free you from overwhelming debts so you can make a fresh start, subject to some
restrictions.
�� make sure your assets are shared out fairly among your creditors.
Anyone can go bankrupt, including individual members of a partnership. There are different
insolvency procedures for dealing with companies and for partnerships themselves. Separate leaflets about these insolvency procedures are available.