Inquiry into a bankrupt's dealings and property—including by way of private examination—under section 366 of the Insolvency Act 1986
Produced in partnership with Roger Laville of Five Paper

The following Restructuring & Insolvency practice note produced in partnership with Roger Laville of Five Paper provides comprehensive and up to date legal information covering:

  • Inquiry into a bankrupt's dealings and property—including by way of private examination—under section 366 of the Insolvency Act 1986
  • Information about the bankrupt’s affairs
  • The duties of the bankrupt and third parties to co-operate with the trustee
  • Applications under IA 1986, s 366
  • The test for making an order under IA 1986, s 366
  • Procedure—before the application is made
  • Procedure—the application
  • Procedure—responding to the application
  • Procedure—the order
  • Procedure—the examination
  • More...

Inquiry into a bankrupt's dealings and property—including by way of private examination—under section 366 of the Insolvency Act 1986

Information about the bankrupt’s affairs

In order to realise and distribute the bankruptcy estate, the trustee in bankruptcy (trustee) must obtain information about the bankrupt’s assets and liabilities. This includes:

  1. information about the bankrupt’s property itself together with information to enable the trustee to claim or preserve that property

  2. information about the bankrupt’s dealings with others

The information might be in documentary form, or in the knowledge of the bankrupt or others, or both.

The law recognises that only limited information is initially available to the trustee and that those in possession of relevant information might not co-operate with the trustee. The Insolvency Act 1986 (IA 1986) therefore imposes duties on the bankrupt and other parties to co-operate with the trustee and provides mechanisms enabling the trustee to obtain the assistance of the court in obtaining records and information.

The duties of the bankrupt and third parties to co-operate with the trustee

The IA 1986 imposes the following duties:

  1. the trustee must take possession of books, papers and other records which relate to the bankrupt’s estate or affairs and which belong to them or are in their possession or control (IA 1986, s 311)

  2. correspondingly, the bankrupt must deliver up records to the trustee (IA 1986, s 312(1)). Any banker or

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