Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
CSL
Posted - 29 August 2013 : 13:04:19 I am a creditor in a bankruptcy case and I have already sent the proof of debt to prove our claim. I believe that the bankrupt’s house has been significantly undervalued and the Official Receiver is currently looking into the matter. Does the OR have the power to revoke previous arrangements with the bankrupt if he finds that the assets have been undervalued even if the bankrupt has been discharged?
1 L A T E S T R E P L I E S (Newest First)
Viki.W
Posted - 29 August 2013 : 14:25:01 Hi CSL,
I replied to your post the other day. The OR will have carried out his/her own valuation on the property.
Even if the bankrupt has been discharged, the property may not have been dealt with yet as the OR has up to 3 years, if it's the family home.
If for some reason the OR is only just valuing the property now and there is equity, then the OR can still deal with it.
