Bankruptcy Restrictions Order

A Bankruptcy Restrictions Order (BRO) is a legal measure imposed by a court on individuals who have been declared bankrupt or made financially insolvent. It restricts their financial activities, such as obtaining credit over a certain amount or managing a business without permission. The purpose of a BRO is to prevent bankrupt individuals from mismanaging their finances again and to protect creditors. The restrictions typically last for a period of 2 to 15 years, depending on the severity of the financial misconduct. Violating these restrictions can lead to further legal consequences.