Anthony Corvan's bankruptcy

Firstly, a bit of history about bankruptcy in England in the 19th century:
Until 1841, the legal status of being a bankrupt was confined to traders owing more than £100 (reduced to £50 in 1842). Debtors who were not traders did not qualify to become bankrupt, but stayed as insolvent debtors. Responsible for their debts but unable to pay them, they remained subject to common law proceedings and indefinite imprisonment, if their creditors so wished. The legal definition of 'trader' came to embrace all those who made a living by buying and selling and by the late 18th century, included all those who bought materials, worked on them and then re-sold them: in other words, most skilled craftsmen. Farmers were specifically excluded but, nonetheless, do appear in the records. Those who wished to qualify as bankrupts, and thus avoid the awful fate of an insolvent debtor, sometimes gave a false or misleadingly general description of their occupations: dealer and chapman was very common. Partnerships of individuals could also declare themselves bankrupt, but companies were not covered until after 1844.
Insolvent debtors were held in local prisons, and often spent the rest of their lives there: imprisonment for debt did not stop until 1869.
Under the Bankruptcy Act of 1571 (13 Eliz. I c.7) commissioners of bankrupts could be appointed to allow a bankrupt to legally discharge his debts to his creditors by an equitable and independent distribution of his assets, and then begin trading again with his outstanding debts wiped out.

The creditors petitioned the Lord Chancellor for a commission of bankruptcy, or a fiat after 1832 when the Court of Bankruptcy was established. Commissioners were independent assessors who would decide whether a debtor was eligible for bankruptcy proceedings, and oversee the distribution of his assets among the creditors. After 1849, creditors petitioned for an Adjudication in Bankruptcy. The Commissioners took statements from the bankrupt and his creditors about his debts and the creditors would then elect trustees or assignees to value his assets and distribute them as dividends. Full-time Official Assignees, to prevent fraud, were also appointed after 1831, and thereafter assignees had to pay cash from the sale of a bankrupt's estates into the Bank of England.
When sufficient creditors, (the proportion varied from 3/4 to 4/5, by number and value), were satisfied and had signed a request for a Certificate of Conformity (a statement that the bankrupt had satisfied all the legal requirements), the Commissioners could issue the certificate which effectively discharged him, although dividends might continue to be paid after that date. From 1849 to 1861, there were 3 classes of certificate, I - where the bankrupt was blameless, II - where some blame could be attributed and III - where it was entirely the bankrupt's fault. The Commissioners published notices in the London Gazette to inform creditors about their proceedings.
This makes it apparent that the bakery business was not looking good for the Corvans in the early 1850’s, as Anthony was awarded a certificate of the 3rd class.