What Are Bankruptcy Searches? An Ellis & Ellis Explainer
What is Bankruptcy? Bankruptcy is a process where, for a person who is wholly or partially unable to repay their debts (both secured and unsecured), a compromise with creditors is agreed and approved, and entered into with the court’s oversight. The intention of the bankruptcy process is to equitably allocate your assets among your creditors and in turn provide safeguards for bankruptees from these same creditors. This reallocation process is conducted through a court official (the Official Assignee in Bankruptcy), who administers the Bankruptcy Division of the Insolvency Service of Ireland (ISI). Why should the purchasing solicitor/ conveyancer search for
