A bankrupt woman has been handed a nine-year bankruptcy restriction order (BRO) after failing to report more than £46,000 of income earned through online gambling – in a case which highlights the importance of understanding the rules of insolvency law.
The Insolvency Service investigation found that Susan Holton had not disclosed her winnings to the official receiver, despite her obligation to do so.
Ms Holtom alleged that a third party had access to her online gambling account and won £46,100, but the court found no evidence of this.
Documents show that the winnings were disposed of between 19 July 2016 and 1 August 2016, which the Insolvency Service argued caused a loss to her creditors.
A nine-year bankruptcy restriction order was issued by the court. It means Ms Holtom’s restrictions will be extended until at least 2026.
Bankruptcy restrictions can seriously impact on an individual’s ability to get credit of more than £500, act as a company director, or hold civil positions of seniority, among other endeavours.
Official Receiver Kevin Read at the Insolvency Services said: “The Insolvency Service always looks very closely at individuals who demonstrate dishonesty and takes action where wrongdoing is uncovered.”