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Bankrupt company director’s duties to Official Assignee

May 30, 2014 by SPCS Leave a Comment

The Insolvency Act 2006 sets out the “Duties [of a bankrupt] to provide information” to the Official Assignee. 

S. 142 Bankrupt must give Assignee accounting records and other documents

  • (1) As soon as practicable after adjudication, the bankrupt must—
    • (a) deliver to the Assignee, at the Assignee’s office, relevant documents that are in the bankrupt’s possession or control; and
    • (b) notify the Assignee of relevant documents that are in the possession or control of any other person.

(2) In subsection (1), relevant documents means all accounting records, papers, deeds, instruments, and other documents relating to the bankrupt’s estate.

Other duties that must be undertaken are spelt out, including:

143  Bankrupt must give Assignee information relating to property

144  Bankrupt must give Assignee information relating to income and expenditure

145  Bankrupt must notify Assignee of change in personal information

146  Bankrupt must give Assignee financial information

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