1883 Bankruptcy law

In England and Wales Act has restructured its old laws of bankruptcy of the insolvency of 1883. Bankruptcy law, a public issue and is only between the debtor and the creditors. HistoryBefore Act of 1883 bankruptcy, bankruptcy is a criminal offence. Creditors have allowed to seize property of the debtor or even arrested. Traders, the fraud and bankruptcy committed penalty.The 1883Dissatisfaction in the treatment of bankrupt lands led to the adoption of legislation on bankruptcy of 1883 Bankruptcy Act have face according to death. Act provided that every bankruptcy of an impartial official called was considered a liquidator. Although bankruptcy was not a crime, law makes it a public issue and bankruptcy was subjected to public scrutiny. This effectively prevents the debtor to engage in any public or commercial because he reveals the confidence and potentially rarely not.Certificate MisfortuneThough, could make if the Court considers the bankruptcy of misfortune and not misconduct caused, you could a certificate from disaster type of the debtor. It was an attempt of bankruptcy due to the irresponsibility and indistinguishable bankruptcy due to an accident.