Magazine article The Spectator

Role of the Bankruptcy Law

Magazine article The Spectator

Role of the Bankruptcy Law

Article excerpt

Sir: I was interested to see Ross Clark's use of my BERR-funded research in his article on bankruptcy ('A formula for fecklessness', 14 February). The research was originally published in January 2006. At the time of publication and in my subsequent oral evidence to the Scottish Parliament on the effects of the Enterprise Act 2002 and the reduction in the automatic discharge period for bankrupts from three years to one year, I disagreed with Mr Clark's central contention, namely, that English and Welsh bankruptcy law is unduly lenient.

Mr Clark is, in effect, advocating the abolition of the concept of discharge and therefore a return to English bankruptcy law and policy that predates the Act to Prevent Frauds Frequently Committed by Bankrupts 1705, which introduced the concept of bankruptcy discharge into English law. …

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