Hi all Haven't posted for quite a while, came across a add in the local paper posted by an OR with reference to a guy who had gone BR in 2008. It was requesting Creditors to get in touch as the OR was about to pay out Dividends. I am assuming that the Dividends are accumulated from money paid back through an IPA. Is this usual practice ?. Just worried about my name appearing in the paper again !! Managed to keep it quiet last time.
Not heard of this one - it may be there was a problem with the BR which is why they have posted. It may be that they think that some creditors have been left off.
Follow through Make your dreams come true Don't give up the fight You will be alright 'Cause there's no one like you in the universe
Hi there - If the Official Receiver has funds available via sale of assets etc then he pays a 'dividend' to creditors - a share of the monies available.
In order to make sure that he has been notified of all claims against the estate of the bankruptcy he will always advertise that he is about to make a dividend in the bankruptcy in the event that there are any debts he is still unaware of Hope this helps, Melanie
Melanie Nicholas CertDR 30+years insolvency experience - 23 of which in the Insolvency Service and the past 8 years with a number of IP firms.
If I can be of any help to you in any way or answer any queries, concerns or worries you may have please do not hesitate to get in touch -I can be contacted via the experts tab
This may be a timing anomaly? The new rules came into effect in April 2009. My understanding is that bankruptcies after that date are subject to the new rules, ie notices not normally published locally.
Bankruptcies commencing prior to that date will still be subject to the old rules. That means for pre-April 2009 bankruptcies, dividends will still be advertised locally even though this may be way after April 2009.
It will be at least April 2013 or thereabouts before most of the pre-2009 bankruptcies clear through I would imagine.
Name in local paper again ?
Posted - 04 April 2012 : 17:21:06
