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Trustee in bankruptcy |
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Trustee In BankruptcyOne appointed by a bankruptcy court, and in whom the property of the bankrupt vests. The trustee holds the property in trust, not for the bankrupt, but for the creditors.Trustee in bankruptcyAn appointed trustee who supervises and administers the affairs of a bankrupt company or individual.Trustee in bankruptcy Similar MatchesBankruptcy chargeBankruptcy chargeThis is an investigation carried out by the Land Charges Registry to check if a purchaser is or has ever been bankrupt. Most mortgage lenders will insist on this search being carried out and it usually carries a small charge. Bankruptcy cost viewBankruptcy cost viewThe argument that expected indirect and direct bankruptcy costs offset the other benefits from leverage so that the optimal amount of leverage is less than 100% leverage financing. Implicit Bankruptcy CostsImplicit Bankruptcy CostsOpportunity costs incurred prior to the bankruptcy process such as the loss of sales or financing. Voluntary bankruptcyVoluntary bankruptcyThe legal proceeding that follows a petition of bankruptcy. BankruptcyBankruptcyA situation where an individual is incapable of settling his/her debts and has been served a bankruptcy order by a court.The petition can either be filed by the individual concerned, or by his/her creditors. An inquiry into the debtor's affairs is made by the Official Receiver and the debtor's assets are realised and distributed among creditors.Personal pension assets are not included under the bankrupt's distributable assets for petitions made after May 29, 2000, unless the bankrupt has deliberately put assets into a personal pension specifically to avoid paying creditors. Money in occupational pensions schemes is also excluded.The equivalent process for companies is 'liquidation'. Further SuggestionsBankruptcy viewPrepackaged bankruptcy Bankruptcy Legal bankruptcy Bankruptcy risk |
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