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Originally posted by Helpful Advice

Hi Ian,

Yes Im affraid it would be illegal.

How much where his total debts?

£250,000- £500,000

How much is he likely to recieve?

Maximum would be about £60,000

Unfortunately the estate has identified an offshore account not declared, as its not in the courts Jurisdiction.



My thought process is that there may be a way to annul the bankruptcy by the offer of settlement to the creditors, whereby the bankruptcy could be wiped from the record and in so doing the charges dropped, however it depends on the total debts of the Bankruptcy against the inheritance amount of £80k

View my Blogs at:

http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/

Bankruptcy Specialist

England,Jackman & Spacey

WebSite www.ejands.co.uk

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quote:

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Originally posted by Helpful Advice

Hi Ian,

What are the offences and is there a posibility they could assist in ther case?

Several counts of running a comapany while bankrupt, using false instruments + Others.


I had a client in this position who simply buried his head in the sand and thought it would all go away, he ignored the OR's calls and even did not let them in when they came to his house.

When He finally sought my advice as a referral from one of his staff members he had been bankrupt for two years and was undischarged indefinatly and a court date was set.

I preapred all the information he had failed to supply and his interview with the OR was carried out in front of the judge, but as he had finally co-operated he was discharged one month after the court case.
We do not think this will be possible as the OR and DTI are very persistant with the charges


I would advice this person to seek advice as soon as possible and work with thier advisor to co-operate as best they can with the OR to obtain a fixed date for discharge if this at all possible.

yes the trustee would more than likley take all the money in this instance.

If this person is discharged from Bankrupty prior to getting the money then yes.

What is the claim for?

Its a claim on his fathers? estate under the 1975 inheritance provision of dependence act.

If it was an inheritence left in a will then the money is essentially his when the person who left the sum died which means it should be due to the trustee regardless of how long it actually takes for him to recieve the funds so I would advice your friend to be cautious if the trustee gets wind of the situation then it won't matter if this person is discharged or not!!

The Trustee already knows about the case in the direction hearing he was forced to tell the trustee.

If he does get awarded a sum from the estate, would it be illigal to have it paid to an offshore trust fund?







View my Blogs at:

http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/

Bankruptcy Specialist

England,Jackman & Spacey

WebSite www.ejands.co.uk

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quote:

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Originally posted by Helpful Advice

Hi Ian.t,

Welcome to the forum.

Can I ask why you are indefinatly undischarged?
The person is idefinatly undischarged as they have not cooperated with the OR or Trustee, and is being taken to court because of this and other offences.


Yes they could make a claim on anything you obtain whilst you are an undischarged bankrupt, it will be seen as a windfall.
Would they take all the money?


I would normally say wait till your discharged to make your claim, so I would need to know the reasons behind your being undischarged and the background to it to see if there is a way to make your discharge a definative timescale.
The timescale for a claim under the 1975 inheritance act is 6 months from probate so it has already been started.


If the case that is started is delayed long enough can he then keep the money?

Is there any other way the money could be kept?
Thank you

Ian


Kind Regrds,

Brett

View my Blogs at:

http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/

Bankruptcy Specialist

England,Jackman & Spacey

WebSite www.ejands.co.uk

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