| Commentary

201 Accountability of trustee

| Commentary

201 Accountability of trustee

The trustee is in a fiduciary position and owes a duty of good faith1. If there is an allegation of breach of fiduciary duty, it may be pursued on an application under Section 304 of the Insolvency Act 1986, whereby, if the court is satisfied:

  1. 201.1

        that the trustee has misapplied or retained, or become accountable for, any money or other property comprised in the bankrupt’s estate; or

  2. 201.2

        that the estate has suffered any loss in consequence of any misfeasance or breach of fiduciary or other duty by a trustee in the carrying out of

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