Top 10 of 3,713 law firms for Trustee in Bankruptcy, Wills, Trusts & Probate

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A trustee in bankruptcy takes over the debtor’s estate when a bankruptcy order is made, realises assets, pays costs, and distributes funds to creditors. A solicitor in this area advises on the appointment, the trustee’s duties, and the process of realising assets, dealing with claims, and filing the necessary reports and accounts with the Insolvency Service. The work often involves statutory investigations, reporting on the debtor’s conduct, and ensuring correct distribution of dividends to creditors.

Where a solicitor protects your position

The appointment triggers time-bound tasks: collecting assets, valuing them, paying priority debts, and distributing the remainder to creditors. The process is governed by the Insolvency Act 1986 and related insolvency rules, with the trustee required to act in the debtor’s and creditors’ best interests and to keep proper accounts and reports. The role carries fiduciary duties and potential consequences for mismanagement.

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