Insolvency Law (Practice Notes Series) by Frieze, Steven Frieze, Clive M Brand PDF

By Frieze, Steven Frieze, Clive M Brand

ISBN-10: 185941575X

ISBN-13: 9781859415757

This ebook considers all sorts of insolvency together with own and company insolvency, liquidation, receivership and management. a transparent exposition of the tactics to be is supplied, and the booklet features a huge physique of case legislations, with specific connection with the parts of completing methods and voluntary preparations. there's an multiplied part at the use of IVAs specially in regard to vote casting, and the part on partnerships takes into consideration the adjustments caused by way of the bancrupt Partnerships Order 1994 and the advent of the idea that of the Partnership management Order and Partnership Voluntary association.

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Additional info for Insolvency Law (Practice Notes Series)

Example text

174). 175). The bankrupt must take the oath and answer all the questions as the court may put or allow to be put. He may employ a solicitor or counsel at his own expense for the purpose of enabling him to explain or qualify any answers given. 175). The purpose of questioning is to ascertain if there are any further assets or rights for the creditors or any protection to the public which might be obtained by the answers. A written record of the proceedings is taken and ultimately has to be signed by the bankrupt and verified by affidavit at a later date.

If the offender is adjudged bankrupt before the making of the restraint order or the appointment of a receiver, then s 84(1) does not apply (s 84(2)). No order can be made under s 339 or s 423 (avoidance of transactions at an undervalue or transactions defrauding creditors) while criminal proceedings which might result in a confiscation order, restraint order or charging order are pending (s 84(6)). If a trustee in bankruptcy sells property which unbeknown to him is subject to a restraint or charging order, he will not be liable for any loss resulting from its disposal (unless he was negligent) and he is also entitled to a lien on BANKRUPTCY 41 the proceeds of sale for his expenses in connection with the disposal (s 87).

If the trustee does not disclaim the lease, he remains personally liable for the rent. There is no time limit within which the trustee can disclaim unless he has been served with notice by the person interested in the property requiring him to make a decision within 28 days (s 316). If the trustee disclaims a lease, the court can vest the property in any person claiming an interest in that property, the guarantor of any liability in respect of the property or, in the case of a dwelling-house, in the occupant (s 320).

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Insolvency Law (Practice Notes Series) by Frieze, Steven Frieze, Clive M Brand


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