Tag Archive | "bankruptcy trustee"
Bank account – will my Bankruptcy Trustee close my bank account?
Usually your Bankruptcy Trustee will allow you to retain up to $1,200 in your account when you are declared bankrupt. If for example you have more than $1,200 in your account at the time you are made bankrupt, your Bankruptcy Trustee will most likely retain the excess amount.
Continue reading...Assets – can I buy an asset whilst I am bankrupt?
Wednesday, November 26, 2008
If you buy assets whilst you are bankrupt, the asset can be claimed by your bankruptcy trustee as after acquired property. This includes gifts, lottery winnings or inheritance.
Continue reading...Investigations – will any investigations into my financial affairs be made?
Wednesday, November 26, 2008
Your Bankruptcy Trustee will undertake a full investigation into your financial affairs leading up to your bankruptcy. These investigations will focus on: Any assets sold or transferred prior to bankruptcy (up to 5 years); Any assets purchased but not disclosed; or Any excessive expenditure made prior to bankruptcy. Your Bankruptcy Trustee may ask you to explain any transaction or [...]
Continue reading...Transactions prior to bankruptcy – can any transaction be clawed back?
Wednesday, November 26, 2008
Your Bankruptcy Trustee will undertake a full investigation into your financial affairs leading up to your bankruptcy to establish if you entered into any transactions which can be set aside. For example if you sold an asset at under its true “market value” your Bankruptcy Trustee may seek to have it set aside. In this [...]
Continue reading...Examinations – can I be examined in bankruptcy?
Tuesday, November 25, 2008
Your Bankruptcy Trustee can apply to court to have you publicly examined. Alternatively your Bankruptcy Trustee could apply to court for a private examination. If your Bankruptcy Trustee applies to court for an examination, he or she can subpoena a wide range of documents. Your Bankruptcy Trustee can also subpoena records from people associated with you.
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Wednesday, November 26, 2008
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