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Ask JGM Your Own Question
JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11450
Experience:  30 years as a practising solicitor.
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If a insolvency practitioner enters my premises and attempts

Customer Question

If a insolvency practitioner enters my premises and attempts to sell my goods to a third party what can I do?

My solicitor has communicated with the appointed insolvency practitioner advising a robust plan for the debt repayment using equity release leaving a small surplus in my favour.

I have just received an email from the solicitor acting for the equity release company  advising the insolvency practitioner will not communicate with them.  Why and what can I do about this as I believe they should be trying to help me and the creditor?

Submitted: 3 years ago.
Category: Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

On what authority is the insolvency practitioner acting? If the debt is due by you as an individual then there has to be a bankruptcy order in place or a trust deed. If there is a limited company again the insolvency practitioner has to be appointed as liquidator, receiver or administrator.

If that is the case the time for repayment of any one specific debt has long passed and the provisions of bankruptcy or company insolvency law take over.

If there is no formal appointment you will have to explain the position to me a little more and I will be happy to help further.