CHAPTER 31.0: PROTECTION AND COLLECTION OF ASSETS
One of the functions of the official receiver is to identify all the potential assets of the insolvent to maximise the return to creditors after the payment of the fees, costs and other expenses of the bankruptcy or liquidation. This chapter provides general guidance on the identification, protection, collection and disposal of the assets of a bankrupt or company. It also provides advice on identifying and dealing with property belonging to third parties.
More detailed guidance is provided regarding specific assets in the chapters contained in the Chapter 31 chapters.
This chapter is divided into four parts as follows:
Part 1 – Identification of assets (paragraphs 31.0.2 to 31.0.13)
Part 2 – The ownership of assets and dealing with third party property (paragraphs 31.0.14 to 31.0.38)
Part 3 – The protection and collection of assets (paragraphs 31.0.39 to 31.0.73)
Part 4 – The realisation of assets (paragraphs 31.0.74 to 31.0.82)
Annex A – Section 12 and Schedule 1 of the TORTS (Interference with Goods) Act 1977
Annex B – Statutory declaration to be used where pawn-receipt has been lost (added October 2012)
Annex C – Statement to be used where pawn-receipt has been lost (loan under £75) (added October 2012)
[On to Part 1 – Identification of assets]