Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 21 · Bankruptcy Miscellaneous Provisions
420. Arbitration agreements to which bankrupt is party
Feedback & supportThis section applies where a bankrupt had become party to a contract containing an arbitration agreement before the commencement of his or her bankruptcy.
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;
If the Official Assignee adopts the contract, the arbitration agreement is enforceable by or against the Official Assignee in relation to matters arising from or connected with the contract.
Official Assignee
“Official Assignee” means the Official Assignee appointed under section 16(1) and includes a Deputy Official Assignee, a Senior Assistant Official Assignee and an Assistant Official Assignee;
If the Official Assignee does not adopt the contract and a matter to which the arbitration agreement applies requires to be determined in connection with or for the purposes of the bankruptcy proceedings —
the Official Assignee; or
any other party to the agreement,may apply to the Court which may, if the Court thinks fit in all the circumstances of the case, order that the matter be referred to arbitration in accordance with the arbitration agreement.