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ATTORNEY [ licensed to practice in KOREA, U.S.A., ILLINOIS ] LEE, JAE WOOK
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Start →Duties etc. of trustee (1) The duties of the trustee of the estate of a bankrupt include the following: (a) notifying the bankrupt's creditors of the bankruptcy; (b) determining whether the estate includes property that can be realised to pay a dividend to creditors; (c) reporting to creditors within 3 months of the date of the bankruptcy on the likelihood of creditors receiving a dividend before the end of the bankruptcy; (d) giving information about the administration of the estate to a creditor who reasonably requests it; (e) determining whether the bankrupt has made a transfer of property that is void against the trustee; (f) taking appropriate steps to recover property for the benefit of the estate; (g) taking whatever action is practicable to try to ensure that the bankrupt discharges all of the bankrupt's duties under this Act; (h) considering whether the bankrupt has committed an offence against this Act; (i) referring to the Inspector-General or to relevant law enforcement authorities any evidence of an offence by the bankrupt against this Act; (j) administering the estate as efficiently as possible by avoiding unnecessary expense; (k) exercising powers and performing functions in a commercially sound way. (2) Where a person who became a bankrupt on a creditor's petition is unable to prepare a proper statement of affairs, the trustee may employ, at the expense of the estate, a qualified person to assist in the preparation of the statement. ← End |
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Copyright 1997-2024
TAX & LAW (ݰ )
site ϴ ƴϸ, ̰ "" Ƿ(¶ ƴ϶ å Ⱓ Ƿ) Ǹ մϴ. , Ƿʿ Ȥö ִٸ, װ ƴϸ, Ͽ ̰ų ̶ Ͻñ ٶϴ. ұϰ ̸ ̶ ϽŴٸ, ϴ Ʈ ƴ϶ Ͽ (å Ⱓ Ƿ) Ƿ Ͻʽÿ. 繫ǿ Ͻ κ ƴմϴ. |
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