a streamlined bankruptcy where the administration process is reduced in order to lower the costs of the administration and increase the amount that may be distributed to the creditors
a procedure which applies in bankruptcies based on a debtor's petition where the liabilities total less than £20,000. The Official Receiver usually acts as trustee and the bankrupt is normally discharged after two years.
Under the Bankruptcy and Insolvency Act, a summary administration bankruptcy is a consumer bankruptcy defined as a bankruptcy where the free and clear assets are less than $5,000. Summary administration bankruptcies have stream lined procedures, making them less costly to administer.