On 29 April 2019, the County Court at Leicester made a further Bankruptcy Restrictions Order (BRO) against William Joseph Thorne after he borrowed £18,000 without disclosing he was already subject to a BRO.
William Thorne (65) will now be subject to bankruptcy restrictions for a further four years to last until 29 April 2026.
The court heard that a Bankruptcy Order (BO) was made against William Thorne in in May 2015 after he was unable to pay debts of more than £600,000. In addition to this, the court heard he had personal borrowing of more than £300,000.
Restrictions under bankruptcy, such as borrowing more than £500 without telling the lender you're bankrupt or acting as a director of a company without the court's permission, are usually discharged after 12 months.
However, between March 2012 and March 2015, William Thorne borrowed more than £450,000 while he was insolvent and without the means to pay back his debts.
This led to a Bankruptcy Restrictions Order being made against William Thorne due to the large sums involved, which resulted in his restrictions being extended for a further 6 years lasting till July 2022.
And William Thorne's latest court action, in which he did not appear, was as a result of him borrowing £18,000 in April 2018 without declaring that he was subject to the BRO from 2016.
Gerard O'Hare, Official Receiver for the Insolvency Service, said:
William Thorne has ignored the terms of his BRO and continued a pattern of borrowing large sums of money.
Additional restrictions will further limit his activities and act as a safeguard for any potential future creditors.
All public enquiries concerning the affairs of the bankrupt should be made to: The Official Receiver, Level One Apex Court City Link Nottingham NG2 4LA
