An investigation by the Insolvency Service found Langton misappropriated £21,517 from three banks by making false claims for reimbursement of sums paid out of his account.
Mr Langton (24), employed, of Leicester, has agreed to be bound by the restrictions set out in insolvency law until 11 October 2025.
On 2 December 2016, a bankruptcy order was made after Mr Langton applied for his own bankruptcy. His total deficiency at the time was around £36,421.
Commenting on the case Gerard O’Hare, Official Receiver for Nottingham said:
Mr Langton falsely claimed reimbursements for money paid out of his account from three banks receiving £21,517. He knew he was not entitled to the money but claimed the reimbursements regardless of the consequences, which resulted in incurring debt.
This eight year restriction should act as a deterrent to him and others from acting in the same way.
Notes to editors
The bankruptcy order was made on 2 December 2016 following a petition presented on 1 December 2016.
Mr Langton’s date of birth is October 1993.
If the Official Receiver considers that the conduct of a bankrupt has been dishonest or blameworthy in some other way, he (or she) will report the facts to court and ask for a Bankruptcy Restrictions Order (BRO) to be made. The court will consider this report and any other evidence put before it, and will decide whether it should make a BRO. If it does, the bankrupt will be subject to certain restrictions for the period stated in the order. This can be from 2 to 15 years.
The bankrupt may instead agree to a Bankruptcy Restrictions Undertaking (BRU) which has the same effect as an order, but will mean that the matter does not go to court.
These are restrictions set out in insolvency law that the bankrupt is subject to until they are discharged from bankruptcy – normally 12 months and include that bankrupts:
- must disclose their status to a credit provider if they wish to get credit of more than £500
- who carry on business in a different name from the name in which they were made bankrupt, they must disclose to those they wish to do business with the name (or trading style) under which they were made bankrupt
- may not act as the director of a company nor take part in its promotion, formation or management unless they have a court’s permission to do so
- may not act as an insolvency practitioner, or as the receiver or manager of the property of a company on behalf of debenture holders
Additionally, a person subject to a bankruptcy restrictions undertaking may not be a Member of Parliament in England or Wales.
The Insolvency Service, an executive agency sponsored by the Department for Business, Energy and Industrial Strategy (BEIS), administers the insolvency regime, and aims to deliver and promote a range of investigation and enforcement activities both civil and criminal in nature, to support fair and open markets. We do this by effectively enforcing the statutory company and insolvency regimes, maintaining public confidence in those regimes and reducing the harm caused to victims of fraudulent activity and to the business community, including dealing with the disqualification of directors in corporate failures.
BEIS’ mission is to build a dynamic and competitive UK economy that works for all, in particular by creating the conditions for business success and promoting an open global economy. The Criminal Investigations and Prosecutions team contributes to this aim by taking action to deter fraud and to regulate the market. They investigate and prosecute a range of offences, primarily relating to personal or company insolvencies.
The agency also authorises and regulates the insolvency profession, 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.
Contact Press Office
The Insolvency Service
4 Abbey Orchard Street
020 7596 6187
This service is for journalists only. For any other queries, please contact the Insolvency Enquiry line on 0300 678 0015.
For all media enquiries outside normal working hours, please contact the Department for Business, Energy and Industrial Strategy Press Office on 020 7215 1000.
You can also follow the Insolvency Service on:
Link: Press release: Eight year bankruptcy restriction for Leicester man
Source: Gov Press Releases