Introduction

What happens when monies are loaned for a specific purpose but that purpose fails? Should those monies fall within the general assets of the recipient upon bankruptcy or insolvency?

RE: BPE SOLICITORS & ANOTHER V GABRIEL [2015] UKSC 39 

The Supreme Court considered whether a trustee in bankruptcy who was considering adopting proceedings and lodging an appeal should be personally liable for historic adverse costs which had been awarded against the bankrupt prior to the commencement of the bankruptcy.

A Trustee in Bankruptcy’s liability for litigation costs