Trustee Negotiations In Bankruptcy
Trustee Negotiations are tough.
At Bell & Company, we specialize in this niche area of work assisting those people under immense pressure when it comes to Trustee Negotiations in Bankruptcy.
If somebody is declared Bankrupt and holds any discernible assets, then the Official Receiver will appoint an Insolvency Practitioner to act as the Trustee.
The Trustee’s role is to maximize the return for the Creditors from the assets deemed to be realisable, from the Bankrupt’s Estate.
The situation is compounded then by complications that arise from the partial commercial paralysis caused by COVID-19.
Typical issues that arise in Bankruptcy include:
- Family home, the most important,
- Provision for husband or wife’s share if not registered on the title,
- Business interests,
- Other property holdings,
- Limited companies,
- Foreign property,
- Well paid employment,
- Bequests and Wills, and
- Many, many, more.
Each and every case is different and it’s what the Trustee can realise or be willing to accept in terms of funds, for assets held under his or her remit.
The Trustee is therefore required:
- To realise the assets to maximise the return for the Creditors, and
- Equally as important….to release funds in order to meet the Trustee’s costs.
If your clients or associates need help…we are here.