| T O P I C R E V I E W |
| charlie44 |
Posted - 07 May 2010 : 13:24:24
Is it likely that someone could get a BRO/BRU if the OR has applied to be released as trustee?
Life`s Tragedy is that we get old too soon
and WISE too late! |
| 7 L A T E S T R E P L I E S (Newest First) |
| charlie44 |
Posted - 08 May 2010 : 14:22:52
Thanks guys as always for your replies.
Life`s Tragedy is that we get old too soon
and WISE too late! |
| debtinfo |
Posted - 08 May 2010 : 09:10:01
Actually asking for relase as trustee is only the administartion of the case, assets and liabilities, The other job of the OR is to investigate conduct and is seperate (even if an external trustee is applied the OR still retains that role). So the OR can stiill investigate and apply for a BRO at any point up until discharge, However it is likely that most of the time if they have applied for release then they have finished everything but not guaranteed |
| InsolvencyQandA |
Posted - 07 May 2010 : 22:39:56
quote:
Originally posted by charlie44
Thanks Bridgewood, much appreciated.
Life`s Tragedy is that we get old too soon
and WISE too late!
If the OR has applied for release and has not passed the case to an IP to deal with any asset realisation then he has concluded his adminisration and wil be closing his file. No BRO should follow |
| charlie44 |
Posted - 07 May 2010 : 14:09:10
Thanks Bridgewood, much appreciated.
Life`s Tragedy is that we get old too soon
and WISE too late! |
| Bridgewood |
Posted - 07 May 2010 : 13:57:41
Hi Charlie
It sounds unlikely - an IP would only be appointed if you had assets to be realised - or matters to be investigated which may result in assets being recovered
The OR would have asked you enough questions for you to be aware if there may be an issue.
It sounds like the OR has concluded his investigations and is seeking his release on the basis that there is nothing more to do
A quick call to your OR should settle it
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| charlie44 |
Posted - 07 May 2010 : 13:38:37
Hi Richard thanks for the quick answer.
It also says that insufficient assets have been realised to enable a dividend to be paid to my creditors. Does that mean I may still get passed to an company or not?
Life`s Tragedy is that we get old too soon
and WISE too late! |
| Richard P |
Posted - 07 May 2010 : 13:29:25
Hi Charlie
my OR released their role as a trustee in preference to an external company who undertook the role of trustee, mainly because my file had the potential for cash to be released.
Dont panic yet, think they would have told you personally if they have an issue they wish to discuss further
regards Richard |
