| T O P I C R E V I E W |
| Anthony Lefevre |
Posted - 15 January 2013 : 07:53:47
I was made Bankrupt in October 2010 - during the 'interrogation' that took place - I was asked to account for proceeds of a car that I had sold some 6 months prior to my bankruptcy hearing. In my submission I stated that £850 had been repaid to my sister - money she had lent me. Now my sister has received a letter from the solicitor for the Official Receiver requesting that this is paid back by my sister to them. They state that All transactions for the two years prior to a bankruptcy are apparently subject to further scrutiny - and she must return the £850 to the receiver. Their reason: The receiver considers she was placed in a more favourable position than other creditors (Lloyds Bank & Credit Card Companies)and this is why she has to repay the money.
Is this correct?
Can they do this?
What can she / I do? How do we respond?
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| 5 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 15 January 2013 : 17:49:59
Agree with Viki - it's down to the OR. Moon Beaver are just there for payment as far as I am concerned. |
| Viki.W |
Posted - 15 January 2013 : 16:21:17
Moon Beaver don't need to be involved Bobi, the OR can chase the payment. How far they will chase it is dependant on the OP's sister's circumstances.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
| bobi |
Posted - 15 January 2013 : 13:21:41
quote:
Originally posted by Anthony Lefevre
I was made Bankrupt in October 2010 - during the 'interrogation' that took place - I was asked to account for proceeds of a car that I had sold some 6 months prior to my bankruptcy hearing. In my submission I stated that £850 had been repaid to my sister - money she had lent me. Now my sister has received a letter from the solicitor for the Official Receiver requesting that this is paid back by my sister to them. They state that All transactions for the two years prior to a bankruptcy are apparently subject to further scrutiny - and she must return the £850 to the receiver. Their reason: The receiver considers she was placed in a more favourable position than other creditors (Lloyds Bank & Credit Card Companies)and this is why she has to repay the money.
Is this correct?
Can they do this?
What can she / I do? How do we respond?
"For a preference to be capable of consideration by the court, it must have taken place in the 6 months prior to the date of the presentation of the petition in both a compulsory winding up and bankruptcy proceedings. Where the preference involved someone connected to the company (see paragraph 15) or an associate of an individual (see paragraph 16), the relevant period is extended to 2 years prior to the presentation of the petition. At the time the preference was made, the company or individual must have been insolvent or become insolvent as a result of the preference." |
| bobi |
Posted - 15 January 2013 : 13:03:59
quote:
Originally posted by Anthony Lefevre
I was made Bankrupt in October 2010 - during the 'interrogation' that took place - I was asked to account for proceeds of a car that I had sold some 6 months prior to my bankruptcy hearing. In my submission I stated that £850 had been repaid to my sister - money she had lent me. Now my sister has received a letter from the solicitor for the Official Receiver requesting that this is paid back by my sister to them. They state that All transactions for the two years prior to a bankruptcy are apparently subject to further scrutiny - and she must return the £850 to the receiver. Their reason: The receiver considers she was placed in a more favourable position than other creditors (Lloyds Bank & Credit Card Companies)and this is why she has to repay the money.
Is this correct?
Can they do this?
What can she / I do? How do we respond?
What i read in insolvency act Moon Beaver do not take any legal action if the amount is less than 5000 pounds. They just ask her to return the money. she can fight in court for that.probably she will win..Viki please correct me if Im wrong. Every case is different. |
| Viki.W |
Posted - 15 January 2013 : 08:01:34
Hi Anthony,
Yes, that's correct, unfortunately. Can she repay the money? Or can a family member or friend help out?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
