Author Topic: Trustee in bankruptcy  (Read 1322 times)

Mr Pickles

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Trustee in bankruptcy
« on: Feb 25, 2012, 10:36:59 AM »
Hi
 
I was wondering can one of my creditors (in my case an insolvency practioner to whom I owe money from a failed IVA) act as my Trustee in Bankruptcy ?
 
Kind regards
 
Peter

James Falla

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Re: Trustee in bankruptcy
« Reply #1 on: Feb 27, 2012, 03:20:03 PM »
Hi there Peter
 
If you have been in an IVA which has failed, your IP may decide to petition for your bankrupty. They are within their rights to make a request to the Court that they are named as your Trustee. Where this happens the Court will normally agree for the IP to be the Trustee as long as non of the creditors objects. If for some reason the IP has no interest in becoming the Trustee or one of the creditors objects, then the Court will normally hand over the case to the local Official Receiver for them to deal with.
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Simon Wyllie

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Re: Trustee in bankruptcy
« Reply #2 on: Feb 28, 2012, 01:12:51 PM »
Is this an outcome that you would like Peter, or a scenario that you are keen to avoid?

James Falla

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Re: Trustee in bankruptcy
« Reply #3 on: Mar 02, 2012, 11:52:14 AM »
Is your IVA insolvency practitioner petitioning for your bankruptcy Peter? If not but your IVA has failed, then have you decided to petition for your own bankruptcy? If this is the case, it is highly unlikely that your IP will wish to act as your Trustee and it will be the official receiver who deals with your case.
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Simon Wyllie

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Re: Trustee in bankruptcy
« Reply #4 on: Mar 06, 2012, 02:30:14 PM »
I think James is correct Peter, but it would be useful to understand a little bit more about the background to your situation if you'd like any further advice or comment.

James Falla

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Re: Trustee in bankruptcy
« Reply #5 on: Apr 02, 2012, 06:19:56 PM »
Hi there Peter. How are you getting on? If you would like any further advice or help please do not hesitate to ask.
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