Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 17 · Administration in Bankruptcy
355. Contracts to which bankrupt is party
Feedback & supportThis section applies where a contract has been made with a person who is subsequently adjudged bankrupt.
bankrupt
“bankrupt” means —(a)an individual debtor who has been adjudged bankrupt by a bankruptcy order; or(b)where a bankruptcy order has been made against a firm, each of the partners in the firm;
The Court may, on the application of any other party to the contract, make an order discharging obligations under the contract on such terms as to payment by the applicant or the bankrupt of damages for non-performance or otherwise as appear to the Court to be equitable.
Any damages payable by the bankrupt by virtue of an order of the Court under this section is a debt provable in bankruptcy.
debt provable in bankruptcy
“debt provable in bankruptcy” or “provable debt” means any debt or liability that is made provable in bankruptcy under this Act;
Where an undischarged bankrupt is a party to any contract jointly with any person, that person may sue or be sued in respect of the contract without the joinder of the bankrupt.