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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.
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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Tagged solicitors Christopher Eriksson-Lee and Emma Hegarty
Always find Brachers a pleasure to deal with, and their professional and well managed approach was particularly notable at a the time of a bereavement.
Review left by Anonymous
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Tagged solicitor Jonathan Edwards
Thank you for all your help and assistance in dealing with getting probate for my late Fathers estate. Everyone was very friendly + helpful which was such a stressful time.
Review left by Penelope
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Tagged solicitor Rachael Stokes
Rachael was able to present her obviously thorough understanding of the law using straightforward and clear language. She drew up my will and LPAs and whenever we communicated (whether in person, by phone or email) I received a warm welcome. I also had the sense that my thoughts and feelings were being valued, felt confident in Rachael’s professionalism and at all times understood what was happening. Excellent!
Review left by Keith
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Tagged solicitor Elleanor Train
Elleanor was very professional in her approach to the entire process and shared her legal knowledge in an understandable form. I felt comfortable about asking her any questions or contacting her at any time to discuss different points. She was able to present both sides of a situation to enable me to make informed choices. This was especially the case regarding the Will making.
Review left by Anonymous
