Moratorium on debts begins at admission, staying proceedings and imposing specified debtor conduct restrictions. On admission of an application under the fresh start process a moratorium begins for all debts; pending proceedings are stayed and creditors, subject to section 86, are barred from initiating proceedings. The debtor is prohibited from acting as a director or participating in company formation or management, disposing of assets, must inform business partners of the fresh start process, give prior notice for certain transactions, disclose alternate trading names, and must not travel abroad without permission. The moratorium ends at the conclusion of the prescribed period unless the admission order is revoked.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Moratorium on debts begins at admission, staying proceedings and imposing specified debtor conduct restrictions.
On admission of an application under the fresh start process a moratorium begins for all debts; pending proceedings are stayed and creditors, subject to section 86, are barred from initiating proceedings. The debtor is prohibited from acting as a director or participating in company formation or management, disposing of assets, must inform business partners of the fresh start process, give prior notice for certain transactions, disclose alternate trading names, and must not travel abroad without permission. The moratorium ends at the conclusion of the prescribed period unless the admission order is revoked.
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