Press release

Restrictions extended for Leicester bankrupt after breach

Leicester resident who breached the conditions of his Bankruptcy Restriction Order has had his restrictions extended by four years.

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On 29 April 2019, the County Court at Leicester made a further Bankruptcy Restrictions Order (BRO) against William Joseph Thorne after he borrowed £18,000 without disclosing he was already subject to a BRO.

William Thorne (65) will now be subject to bankruptcy restrictions for a further four years to last until 29 April 2026.

The court heard that a Bankruptcy Order (BO) was made against William Thorne in in May 2015 after he was unable to pay debts of more than £600,000. In addition to this, the court heard he had personal borrowing of more than £300,000.

Restrictions under bankruptcy, such as borrowing more than £500 without telling the lender you’re bankrupt or acting as a director of a company without the court’s permission, are usually discharged after 12 months.

However, between March 2012 and March 2015, William Thorne borrowed more than £450,000 while he was insolvent and without the means to pay back his debts.

This led to a Bankruptcy Restrictions Order being made against William Thorne due to the large sums involved, which resulted in his restrictions being extended for a further 6 years lasting till July 2022.

And William Thorne’s latest court action, in which he did not appear, was as a result of him borrowing £18,000 in April 2018 without declaring that he was subject to the BRO from 2016.

Gerard O’Hare, Official Receiver for the Insolvency Service, said:

William Thorne has ignored the terms of his BRO and continued a pattern of borrowing large sums of money.

Additional restrictions will further limit his activities and act as a safeguard for any potential future creditors.

All public enquiries concerning the affairs of the bankrupt should be made to: The Official Receiver, Level One Apex Court City Link Nottingham NG2 4LA Tel: 0115 852 5000.

Notes to Editors

Details of William Joseph Thorne’s Bankruptcy Restrictions Order is available on the Individual Insolvency Register

William Joseph Thorne’s date of birth is March 1954 and he is from Leicester.

The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. It may also use powers under the Companies Act 1985 to conduct confidential fact-finding investigations into the activities of live limited companies in the UK. In addition, the agency deals with disqualification of directors in corporate failures, assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees, provides banking and investment services for bankruptcy and liquidation estate funds and advises ministers and other government departments on insolvency law and practice.

Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.

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Published 15 May 2019