Income payments agreement under section 310A of the Insolvency Act 1986

The following Restructuring & Insolvency precedent provides comprehensive and up to date legal information covering:

  • Income payments agreement under section 310A of the Insolvency Act 1986

Income payments agreement under section 310A of the Insolvency Act 1986

This Income Payments Agreement is made between:

  1. 1

    [FULL NAME] of [ADDRESS] (the Bankrupt)

  1. 2

    [FULL NAME] of [FIRM AND FIRM’S ADDRESS] acting as [joint] trustee of the Bankrupt’s estate, including any successor[s] in office, without personal liability (the Trustee)

Background

    1. (A)

      On [DATE], a bankruptcy order was made against the Bankrupt in the [COURT] under case number [CASE NO], and on [DATE] the Trustee was appointed to act as trustee of the Bankrupt’s estate.

    1. (B)

      The Bankrupt has provided to the Trustee a statement of their monthly income and expenditure and, having had regard to the reasonable domestic needs of the Bankrupt and [his OR her OR family, the Trustee considers that the Bankrupt has surplus monthly income that can be claimed for the benefit of the Bankrupt’s estate.

    1. (C)

      The Bankrupt has voluntarily agreed to pay [a proportion of] that surplus income to the Trustee under this Agreement made pursuant to section 310A of the Insolvency Act 1986 by way of contribution to the Bankrupt’s estate and acknowledges that such surplus income is not required to meet the reasonably domestic needs of the Bankrupt and his OR her] family.

    1. (D)

      References in this income payments agreement to ‘Agreement’ shall mean this income payments agreement.

    1. (E)

      [Where the Trustee acts as joint trustee of the Bankrupt’s estate, any action

Related documents:

Popular documents