Bankrupt Assets

[K_Man]

Hi,

I have an issue with a rather unpleasant chap who hid some assets when he declared himself bankrupt owing a lot of money, what he hid totals about £8k. Anyone have an idea if the Official Receiver would be interested and how I should approach them?

 

[ethical PR]

If he was bankrupt don't you mean the bankruptcy trustee . If it's within a year and you have proof contact them and they can investigate and I believe if proved funding can be returned to creditors/the person claiming bankruptcy can face prosecution .

 

[K_Man]

Thanks, does it have to be within the first year?

 

[ethical PR]

I believe so - if you are talking about personal bankruptcy perhaps you could have a look at one of the consumer or government sites or contact someone like the CAB.

 

[K_Man]

It's still within his first year. But are they likely to pursue him? He deserves it but if it's not going to get very far there's not a lot of point in reporting him, I was wondering how hot the Official Receivers are on people hiding assets?

 

[ethical PR]

The only way you will know is by contacting him or her and providing your evidence. I would have thought they will make a judgement call based on the likelihood of recovery, the amount and how much work will be involved the recovery.

 

[K_Man]

That's sort of what I thought, I did try calling them but they wouldn't tell me how interested they were unless I was to tell them his name, which at that stage I really didn't want to start telling tales on him if the receiver wasn't going to be interested.

 

[ethical PR]

Either your concerned enough to tell them, so tell them, or your not.

No-one's going to be able to provide you with feedback if you don't share the information you have.

 

[K_Man]

Ok, Thanks very much.

 

[tony84]

You have said he is unpleasant, even if they do not do anything surely its worth telling them? If nothing else it may make him lose some sleep.

 

[K_Man]

indeed

 

[Lisa Thomas]

The OR will initially be appointed Receiver/Trustee of the BKY estate. They may farm it out to a private IP to then take over as Trustee or keep it in house. The individual is discharged after one year but if they are aware of misconduct in enough time they can suspend that. However if that has already passed that doesn't stop them from pursuing/recovering assets, which is a different matter. Send them written details of what you're aware of then they can make the decision of whether or not it is material enough to investigate and pursue.