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We have also mentioned insolvent practitioners. On that occasion we mulled on the size of indebtedness that led to bankruptcy. This post relates to the frequency of use of the procedure. The recent publication by OUP of the 19th century volumes on the history of English law throw up a very interesting bankruptcy statistic. The following is noted:
"In 1861 solicitors were brought within the scope of the bankruptcy jurisdiction and a disquieting number passed through the procedure. It was asserted that between 1861 and 1877 no fewer than 942 went bankrupt, 130 of them more than once, with one brazen individual managing to do so 12 times." (William Cornish, J Stuart Anderson, Ray Cocks, Michael Lobban, Patrick Polden and Keith Smith. The Oxford History of the Laws of England, Volumes XI, XII, and XIII, 1820-1914. Vol XI, Oxford University Press, Oxford, at page 1161).
We have a new statistic! Do any readers know of any record breaking insolvency statistics? Do contact me if you do (email@example.com).
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...