UK Accounting Glossary
This is a person whose bankruptcy has not yet been discharged.
Such persons may not obtain credit (over £500) without first informing the creditor that they are a undischarged bankrupt, and they may not carry on a business without first disclosing the name under which they became bankrupt.
Undischarged bankrupts may not hold offices such as Justice of the Peace (JP), member of parliament (MP), Mayor or Councillor.
Both Thompson and Rogers attended a hour long board meeting at the club which agreed to dismiss Ashby, an alleged undischarged bankrupt.
Richardson, from Wolverhampton, had denied aiding and abetting Jones (her partner) to take part in the management of the company whilst he was still an undischarged bankrupt.
From 27 April 2014 and until its liquidation; and without leave of the court, he was still acting as the company director and this was is spite of being a undischarged bankrupt.
They had previously stated numerous times that they were not willing open an account for an undischarged bankrupt; however in this case I believe they made an exception.
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Definitions for Undischarged Bankrupt are sourced/syndicated and enhanced from:
This glossary post was last updated: 5th May 2019.