Queston from a creditor
I have a customer who’s gone bankrupt on the corporate + personal side. The current trustees I have a bit of a problem with – they’ve been somewhat uncooperative so far and appear to be trying to get the bankrupt to keep as much as possible.
As perhaps the sole creditor who will pursue matters, do you have experience being brought in as a replacement trustee? I imagine the fees are pretty standard but I would like to ensure that the bankrupt doesn’t get keep all of his assets.
1 Answer
Hello Mariel,
A replacement trustee can be brought in, but only with the approval of the majority of creditors held at a creditor meeting.
If you are looking to replace the current trustee, you should seek the counsel of a bankruptcy lawyer who can walk you through the steps in doing this and help you find a substitute trustee.