Summary checklist and timeline for transaction at an undervalue and preference claims by a trustee in bankruptcy


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Restructuring & Insolvency expert
Checklists

Summary checklist and timeline for transaction at an undervalue and preference claims by a trustee in bankruptcy


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Restructuring & Insolvency expert

Checklists
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Checklist and timeline

This summary checklist and timeline is drafted from the perspective of a claim being commenced under sections 339 and/or 340 of the Insolvency Act 1986 (IA 1986) by a trustee in bankruptcy (trustee).

Step/actionTime (days)Section/rule
1.Investigate the events and circumstances leading to the debtor’s bankruptcy and the matters giving rise to the claim(s) against the respondent(s) (who would typically be the recipients of the payments/transactions). This would include obtaining the books, papers or records relating to the bankrupt’s estate or affairs which are required to be delivered up to the trustee and interviewing, among others, the bankrupt, the bankrupt’ spouse, former spouse, civil partner or former civil partner and any person appearing to be able to give information about the bankrupt or their dealings, affairs or property.No limit (subject to limitation)IA 1986, ss 365–366
2.Prepare and issue the application containing the information set out at Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024,
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Jurisdiction(s):
United Kingdom

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