Bankruptcy fraud allegations arise when a business or person in financial difficulty is accused of hiding assets or misleading creditors. They overlap with insolvency proceedings.
Where this fits: Often alongside insolvency or restructuring proceedings.
What is bankruptcy fraud?
Broadly, acting dishonestly in connection with insolvency, such as concealing assets or preferring some creditors improperly.
The exact offences should be confirmed in current law.
How do criminal and insolvency proceedings interact?
They can run in parallel and affect each other, so coordinate strategy.
What is asset concealment?
Hiding or moving assets to avoid creditors.
Transfers before insolvency are often examined.
What should I do first?
List all assets and transfers
Including recent ones.
Be accurate in every filing
False statements create new problems.
Keep records of business decisions
Why payments were made.
Coordinate with insolvency advisers
Consistency matters.
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Topics in this area
Within bankruptcy fraud we cover:
- Insolvency fraud
- Asset concealment
- Creditor fraud
Detailed guides
Insolvency Fraud
The criminal offences that can arise when a debtor or a company's directors act dishonestly around insolvency, and the lesser offence of bankruptcy by default.
Read the guideAsset Concealment
What counts as hiding or moving assets to defeat creditors, who can be liable and what the court orders.
Read the guideCreditor Fraud
Offences by creditors and others in an insolvency: false debts, secret agreements, buying votes and taking part without the right to.
Read the guideFrequently asked questions
Can directors be personally liable?
In some cases yes, depending on conduct.
Does insolvency itself mean a crime?
No. Insolvency is not a crime. Dishonest conduct around it can be.
What about transfers to family?
They are often examined. Document the reasons.
Related guides
Financial Crime
Fraud and related allegations in business, banking, investment and digital assets.
Read the guideSecurities Fraud
Investment fraud, market manipulation and misleading investors.
Read the guideTheft & Breach of Trust
Theft, embezzlement, misappropriation and breach of trust allegations.
Read the guide