Trustee in Bankruptcy

[Schnikki]

Sorry, another question. How much does a trustee in bankruptcy receive respectively from the proceeds of the sale of a business worth 165,000?
Any help would be appreciated.

[EverClean]

Schnikki

If this is a bankruptcy that is actually happening then you should have a point of contact that will explain all this. If it is something that you or someone you know is considering then please seek legal advice. In matters as serious as this please don't rely on information posted on here. AB'ers are friendly, helpful and in some cases very knowledgeable but there is no substitute for professional legal advice.

[Paulst30]

I would seriously seek advice as whats been said already, Trustees although helpful won't always keep in contact with you, remember they are keeping the welfare of the business to heart.

They are notorious for leaving you in the lurch until the moment of sheer shock when the officers turn up at the door with the citation for court and then your world kinda crumbles.

Stay one step ahead of the game and find out everything you can, I've just entered my second trust deed after being sequestrated, due to serious communication errors with my previous trustee, the courts dont care and now its too late.

Don't let it happen unless your 100% sure about the future cause it will effect you possibly for the next 6 years at least.

[themas]

I think from his ref. to sequestration that Paul is in Scotland. The bankruptcy laws there are different from those in England & Wales so may not apply to you.

If you are actually bankrupt then you should ask the trustee if you need this info.

[donnahuber5]

I think you will need an consultant in your question. Because its part of the payment of bankruptcy.