hoskib

iTrader: (1)

don't want to **** it up and a few bits on it i want to check i'm writting the right thing!

if someone could explain these questions that would be great

(assume this is a std form) question 7 asks for 'particulars of any security held', what is the security in question?

8 - 'particulars of any reservation of titile claimed in respect of goods supplied to which the claim relates' i guess this is if you have doubts over the validity of say an investor/investment comapny?

and lastly the gumf at the bottom stating addmited to vote for and admitted for dividend for, am i right in guessing the trustee fills this bit out?

really not alot of help on google or government sites, loads of how to become bankrupt but not alot to help creditors!

any answers or links to a site that could explain it all would be much appreciated.

ta

hoskib

iTrader: (1)

anyone? really don't want to **** it up if i can help it!

moses

all i can say is mate i hope u recover soon and be careful next time, it makes me sad when i see busines's liquidated and people bankrupt

all the best bud in life ameen

KiwiGTI

My guess is they relate to ownership of the asset, security would be something like a car or asset on HP, a secured asset.

Jonto

I work in this field (for one of the big four) so should be qualified to answer your questions. fingers crossed.

If your debt is secured it means it is charged against an asset, like a mortgage against a house or HP against a car. If your debt is secured then you can't claim in a bankruptcy/liquidation as an unsecured creditor unless you forfeit your security, which nearly everyone doesn't want to do. By being secured it basically means you get first bite at the cherry when the asset is realised. If you are secured and the cherry isn't big enough, ie you incur a shortfall then you can claim as an unsecured creditor for the shortfall.....ie last in line (bar a couple)

Part 8 refers to ROT claims, retentions of title. ie you are a supplier and you supply a company with goods on a retention of title basis. Basically they are your goods until the other firm has sold them, manufactured them etc. There are various types of ROT clauses, all monies etc but we will leave that for another day. In a personal bankruptcy i would say this section is N/A 99% of the time.

The stuff at the bottom is the the Official Receiver(OR)/Trustee/Liquidator so don't worry about it.

There are a few insolvency practitioners (IPs) on this board so if you have an q's just post and i am sure they will be answered promptly.

Cheers
J1

hoskib

iTrader: (1)

cheers for the info jonto the debt in question is a personal investment with the guy who's gone bankrupt, is this classed as a secured asset?

5hitty situation (as i guess most are!!) so any pointers really will be apreciated

Jonto

so you have paid him money to invest and he has gone bankrupt?

Is he regulated by the FSA?

hoskib

iTrader: (1)

at this stage it looks like he claimed to be, but in reality..... **** knows

maybe not the best place to be talking about it, but he had his collar felt by the fraud squad and didn't declare his debt to me and others when filing for bankruptcy.

Jonto

i am sure you can search on line if he is registered.

pm me if you have any q's.

hoskib

iTrader: (1)

cheers mate, may well bend your ear later