Sentences with phrase «official receiver»
The phrase "official receiver" refers to a person appointed by the government to manage the financial affairs of someone who is bankrupt. They help ensure that the person's assets are used to repay debts to their creditors. Full definition
If you don't cooperate with official receiver, for example by not giving information they need or trying to hide assets, a court can stop you being discharged.
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If your restrictions are to be extended then you will be notified by your trustee or official receiver who is taking care of your bankruptcy case.
Alternatively, you can search the register by visiting your local official receiver's office.
Justin Dionne, Official Receiver from the Insolvency Service, said: «Mr Shiner thought he could be clever by giving away his assets to his family members so that when he declared himself bankrupt there wasn't anything to pay his creditors with.
Official Receiver v. Becker and others [2013] BPIR 352.
You can find out the location of your nearest official receiver's office by checking your local phone book or by calling the Insolvency Service on 0845 602 9848.
Rowbury v Official Receiver [2015] EWHC 2276 (Ch), [2016] BPIR 477, [2016] BPIR 500, [2015] All ER (D) 129 (Sep)
Today it is in the hands of the Official Receiver and Mr McCormack has been declared bankrupt.
Fritz Rothenbuhler of the company Wenger Plattner & Partner has been appointed the official receiver of SDF.
The Official Receiver has been appointed by the court as liquidator along with partners at PwC, appointed as special managers.
Once these have been filed with the Official Receiver, you are legally bankrupt.
You are considered a bankrupt only once the Trustee files these forms with the Official Receiver.
If the Consumer Proposal has been successfully filed, accepted by your creditors, and then paid through completion, a certificate is given indicating the full performance of the proposal to you and the Official Receiver.
The Official Receiver is a federal government employee in the Office of the Superintendent of Bankruptcy and an officer of the court with specific duties under the Bankruptcy and Insolvency Act.
The Official Receiver, among other things, accepts the documents that are filed in proposals to creditors and personal bankruptcy processes, examines bankrupts under oath and chairs meetings of creditors.
After your bankruptcy, the official receiver will thoroughly investigate your situation.
This is often true with the Official Receiver (OR) in a bankruptcy, a participant in the bankruptcy process.
If the order is made you will then have an appointment to see the official receiver who deals with your bankruptcy.
For example, if you spend # 100 per month on tobacco, the official receiver will most likely add the # 100 to your monthly IPA payment.
This may mean you can't afford to keep paying for the items the official receiver thinks are unnecessary.
The official receiver will look in detail at public transport routes and costs in your area when making their decision.
This would usually only happen if your vehicle is worth more than # 1,500, and the official receiver would normally allow you # 1,000 to buy a replacement.
It can be difficult to work out how a vehicle will be dealt with after your bankruptcy, as this may depend on how an official receiver or finance company views your individual case.
The official receiver may allow you to keep making the payments to the logbook loan if the vehicle is essential, for example:
If you stop or reduce the payments without first contacting the official receiver and solicitor there's a risk that further court action could be taken to collect the payments you've missed.
The official receiver will check the logbook loan agreement to make sure it's valid.
You don't get to keep the tax though - you must pay this to the official receiver as well.
If you don't cooperate with the official receiver and agree the IPA, they can apply for a court order to make you comply with it.
The official receiver will compare your spending to their own guidelines which are based on average household costs.
The official receiver may allow you to keep making the payments to a hire purchase or conditional sale agreement if the vehicle is essential, for example:
The official receiver employs a company of solicitors to operate IPAs.
You may still be able to keep your vehicle if you can arrange for a partner, friend or family member to pay the official receiver the money they would have raised from a sale.
If the hire purchase or conditional sale agreement ends before you're discharged, ownership of the vehicle will pass to the official receiver.
When the official receiver works out how much they think you can afford, they'll ignore some costs which they don't think are essential.
If your income or living costs change contact your official receiver and the solicitor as soon as possible and let them know.
If you don't pay an IPA or IPO, the official receiver or solicitor can take further action, including taking payments straight from your wages.
In some cases, the official receiver who administers your bankruptcy might order you to make some payments after you've gone bankrupt.
They may order you to sell your vehicle, buy a cheaper alternative, and pay the difference to the official receiver.
If your income is solely made up of benefits or state pension, the official receiver wo n`t normally set an IPA.
If the logbook loan ends before you're discharged, ownership of the vehicle will pass to the official receiver.
The official receiver will only let you keep your vehicle if it's essential and of low value.
If there's any money left from the sale, it'll be paid to the official receiver.
If there's any way you could use a taxi or public transport instead for any of these journeys, the official receiver won't usually class your vehicle as essential, even if using public transport would be inconvenient.
If the official receiver agrees that a vehicle is essential for your household, they'll take into account the value of your current vehicle.
This means the vehicle doesn't belong to you, so the official receiver can't sell it.
In this case, the official receiver will treat the vehicle as if you owned it outright.
You are considered bankrupt when these forms are filed with the Official Receiver.
You are considered a bankrupt only when the trustee files the bankruptcy paperwork with the Official Receiver.