Quote:
Originally Posted by HarryT
As bankrupts, those people will (assuming it works the same as it does in the UK) for forever barred from being directors of companies
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Just to clarify, you're missing the critical word "undischarged", i.e. it should be "As undischarged bankrupts, ...". As an aside, a bankruptcy will normally be discharged one year after the date the bankruptcy was awarded.
Certainly the effect on credit ratings, etc, is much longer term, but the "forever barred" is incorrect. See
here for info, for example.