Updated: April 8, 2025
Published: August 8, 2022
What is Bankruptcy (Personal Insolvency)?
Simply put, bankruptcy is a formal process under law for individuals who are either fully or partially unable to repay their debts. This structured bankruptcy procedure involves negotiating an agreement with creditors, which is then approved and subsequently monitored by the courts.
In practical terms, bankruptcy’s purpose is to fairly distribute the debtor’s assets (e.g. property, savings, or other valuables) among creditors (lenders) while at the same time offering protections to the individual from further claims. This framework provides protection for both parties as it is underwritten and managed by a court-appointed official, the Official Assignee in Bankruptcy.
Why might someone search the national bankruptcy records in Ireland?
Very broadly, this can be distilled down into two main rationales: –
Due Diligence: Businesses, lenders, or individuals may wish to establish the financial status of potential clients, partners, or borrowers. Knowledge of a debtor’s financial history could impact their credit rating. Such analysis could also lend itself to pre-employment checks, fitness and probity matters, divorce proceedings or other financial obligations and legal settlements.
Property Transactions: Individuals who have been declared bankrupt no longer have the authority to manage or engage in transactions involving their real property assets, such as selling or mortgaging the property. For those reasons, solicitors or conveyancers acting on behalf of the purchasers need to be certain that the property sellers are not bankrupt and still retain the authority and control over the property for sale.
What Registers are searched against in an Ellis & Ellis Bankruptcy Search?
When Ellis & Ellis perform bankruptcy searches, we check the records that identify any petitions in the Bankruptcy Register from the past year*, the Deeds of Arrangements Register ‡ dating from April 14, 1922, to the date, and the Register of EU Personal Insolvencies† from April 14, 2004, to the present day.
How and what should you search for on the Bankruptcy Registers in Ireland?
For due diligence matters, we simply search against the bearer of the name.
For property transactions (conveyancing property, interests or rights), searches are typically carried out against both the seller and the purchaser. The reason why the purchasers are also checked is that this is part of the lender’s “Review of Security” and may influence mortgage approval or other financing decisions.
Are addresses necessary for the search instructions?
The short answer is no, addresses are not required.
Bankruptcy searches are conducted based on the names of individuals against whom a bankruptcy has been recorded. Therefore, searches are solely focused on the names provided in the search instruction, regardless of the address.
What will the Ellis & Ellis certified Bankruptcy result show me?
If the search finds any matching name entries, the result will display the same. For matching ‘hits’, the results will also state which of the three registers the name appears on. It will show the first name, surname, and address details of the returned item, along with a record number, registration date, and status field.
Naturally, if there are no matches, that too will be clearly stated in our result.
So, how long does a Bankruptcy last?
Bankruptcies are usually ‘discharged by law’ after 12 months. However, the Official Assignee may ‘extend’ or ‘interim extend’ the bankruptcy period at their discretion. The Court also has the authority to extend the term of bankruptcy for up to eight years or fifteen years if it views ‘…the actions (non-cooperation) of the bankrupt as particularly serious….’.
Use a trusted Law Search Provider
Given the serious ramifications set out above of either not conducting a search at all, or worse, conducting an inadequate or erroneous Bankruptcy search, it is imperative that purchasing solicitors/ conveyancers use a trusted law search provider such as Ellis & Ellis.
With our blend of a quick and easy-to-use ordering platform, over 135 years of professional know-how, and a quality after-sales experience, we provide clients with a superior searching service.
For added peace of mind, Ellis & Ellis provide Professional Indemnity Cover in excess of €10 million.
Why not join the 1000s of users who trust Ellis & Ellis to deliver them a competitive edge?
Footnotes: –
* Includes searches for any bankrupts that have had their bankruptcies ‘extended’ or ‘interim extended’.
† The EU Personal Insolvency Register records persons who have been made bankrupt in an EU country.
‡ The requirement to maintain a Deeds of Arrangements Register was enacted under The Deeds of Arrangement Act 1887 on 16th September 1887. The Deed of Arrangement legislation set out the instruments ‘…made by, for, or in respect of the affairs of a debtor for the benefit of his creditors…’
Did you find the above information to be of interest? Why not check out one of our other Ellis & Ellis explainers for some related searches below –
Judgement (Debt/Money) Searches