Notice of a property affected by an insolvency proceeding

1. Does your national system admit such restriction?

This land register system envisages this kind of notice or includes the possibility of registering a notice as such.

• The restriction can take the form of an inhibition or a burden.
• An Inhibition is registered for cases involving insolvency cases in the Irish Courts.
• A burden is registered for insolvency cases in the EU.

2. In your system, once registered this restriction, does it block or freeze subsequent registrations (mostly the ones promoted by the owner of the property) until being removed?

Once registered this restriction, it implies a warning to third parties but does not block or freeze subsequent registrations.

The entry of an inhibition restricts subsequent registrations other than those made by the Official Assignee

The entry of a burden does not restrict subsequent registrations but the subsequent registration is made subject to the burden.

3. In your system, in principle, will the registration of this restriction be temporary (under a deadline) or indefinitely (it will be in force until being removed)?

In this system the duration of the registration of this restriction will be temporary (under a deadline).

4. Indicate the national legal sources about this judicial restriction

• The Bankruptcy Act, 1988.
• Section 69, 103 of the Registration of Title Act, 1964.

5. Please, give us an idea about the characteristics of the registration of this restriction in your system

• Irish bankruptcy cases;
  • The Registrar of the Court lodged a notice of the petition in the Land Registry. Upon receipt of same, an inhibition is entered on the register. The inhibition states;
  • All dealings with the property are inhibited for a period of three months from ………. (date of the petition)

•  EU bankruptcy cases;
  • Judgment opening the proceedings referred to in Article 3(1) of the Council Regulation
  • (EC) No. 1346/2000 of 29 May 2000 on insolvency proceedings affecting the interest of…….. in the property obtained on [date] in [Country].