Liquidators are commonly appointed to a company where, prior to liquidation the company was a trustee of a trust. Often when the liquidators are appointed, the company has ceased to be the trustee and a replacement trustee has not been appointed.
In these circumstances, the company in liquidation is a bare trustee in relation to the trust assets and the liquidator will assume this role until a replacement trustee is appointed. Often a replacement trustee is not appointed.
Does the liquidator as bare trustee have a power to sell trust assets?
Australia, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Cooper Grace Ward, Liquidator (law)
Secured creditors should not allow a liquidator to sell a secured asset without first:
Australia, Insolvency & Restructuring, Litigation, Cooper Grace Ward, Liquidation, Secured creditor, Liquidator (law), Unsecured creditor
Introduction
United Kingdom, Insolvency & Restructuring, Chadbourne & Parke LLP, Shareholder, Debtor, Unsecured debt, Marketing, Debt, Liability (financial accounting), Secured creditor, Liquidator (law), Valuation (finance), Insolvency Act 1986 (UK)
Introduction
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Chadbourne & Parke LLP, Shareholder, Unsecured debt, Retirement, Liability (financial accounting), Tax deduction, Holding company, Investment funds, The Pensions Regulator (UK), Lehman Brothers, Insolvency Act 1986 (UK), Pensions Act 2004 (UK), High Court of Justice (England & Wales)
Background
United Kingdom, USA, Derivatives, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, Chadbourne & Parke LLP, Bankruptcy, Collateral (finance), Default (finance), Collateralized debt obligation, Deed of trust (real estate), Credit default swap, Lehman Brothers, Insolvency Act 1986 (UK), Trustee, Court of Appeal of England & Wales, High Court of Justice (England & Wales), United States bankruptcy court