Ch 40: Creditors and Liabilities (March 2014)

CHAPTER 40

March 2014

CREDITORS AND LIABILITIES

40.1 Introduction

The chapter provides information and guidance to assist the official receiver in dealing with creditors and liabilities.  In particular, there is information on which debts are non-provable (see Part 3) and/or not released on discharge (see Part 8).  There is guidance to assist when dealing with a secured creditor (see Part 5) and on the right of set-off (see Part 7).

 

The chapter is divided into the following Parts:

Part 1 – Creditors and liabilities – general and legislative background (paragraphs 40.2 to 40.25)

Part 2 – Types of creditors (paragraphs 40.26 to 40.75)

Part 3 – Non-provable debts (paragraphs 40.76 to 40.96)

Part 4 – Preferential debts (paragraphs 40.97 to 40.103)

Part 5 – Secured creditors and finance agreements (paragraphs 40.104 to 40.152)

Part 6 – Interest (paragraphs 40.153 to 40.159)

Part 7 – Right of set-off (paragraphs 40.160 to 40.175)

Part 8 – Debts not released on discharge (bankruptcy only) (paragraphs 40.176 to 40.184)

Part 9 – Creditors’ rights (paragraphs 40.185 to 40.203)

 

The chapter contains the following Annex:

Annex A – Summary of position regarding preferential creditors pre 15 September 2003

 

[On to Part 1 – Creditors and liabilities – general and legislative background]