Bankrupt’s Pension Protected in Landmark Court of Appeal Ruling

Bankrupt’s Pension Protected in Landmark Court of Appeal Ruling Bankruptcy laws strike a delicate balance between satisfying creditors and enabling debtors to make a clean break so that they can get on with their lives. In one ruling that clarified the law, the Court of Appeal decided that that balance came down in favour of allowing a bankrupt businessman to preserve his private pension. The man was adjudged bankrupt on his own petition and, although the amount of his debts was disputed, creditors claimed that he owed more than £6.5 million. On the day before he was discharged from bankruptcy, his trustee in bankruptcy applied for an income payments order…