Lynn J Collins has given a bankruptcy restrictions undertaking for seven years for failing to disclose and deliver up assets to the trustee, as required to by law.

The ban follows an investigation by the Insolvency Service.

The undertaking, given on 9 August 2016 by Mrs Collins, means that she will be bound for 7 years, by the restrictions set out in insolvency law that a bankrupt is subject to until they are discharged from bankruptcy ? normally 12 months ? until August 2023. In addition, she cannot manage or control a company during this period without leave of the court.

Mrs Collins was declared bankrupt on a petition presented by HM Revenue and Customs on 18 April 2012 and was discharged from bankruptcy on 18 April 2013. She had liabilities of ?33,055.

Whilst dealing with the administration of Mrs Collins? bankruptcy, the Official Receiver and her Trustee became aware that Mrs Collins had failed to disclose assets with a value of ?27,908 held at the time of the bankruptcy. Further enquiries were made and it was discovered that Mrs Collins had realised the assets and spent ?1,618 of the money received. When enquiries were made of her regarding the money, Mrs Collins gave a false statement about where the money had come from in an attempt to put it out of the reach of creditors.

As a result of documentation given to Mrs Collins and which she acknowledged receipt of, following her bankruptcy, she ought to have known that she had a duty to reveal the assets to the Official Receiver and her Trustee.

Commenting on the case, Kevin Read of the Insolvency Service?s Official Receiver?s office said:

?The Insolvency Service always looks very closely at individuals who disregard their duties and responsibilities whilst bankrupt and takes action where wrongdoing is uncovered.?