Property Possession & Sale Proceedings in Bankruptcy - Key Legislation & Case Law

Introduction

This new full day course will examine property possession and sale proceedings in bankruptcy, including recent developments in the substantive case law and procedural trends at court.

The course will focus on the key legislation and case law you need to know to draft an application for residential possession and sale, as well as to prepare for the hearing itself.

It is suitable for insolvency practitioners who accept appointments as trustees in bankruptcy and those solicitors who advise them.

The course will also assist those who act for bankrupts and their families.

It will consider the whole life of an application for possession and sale, from drafting to the final hearing, and will cover the tactics to be deployed by trustees in bankruptcy as well as those frequently seen by those advising bankrupts and their families.

The course will not only highlight the substantive law in this area, but will also include practical assistance in bringing a successful application for possession and sale to realise what is usually the main asset in the bankruptcy estate as swiftly and cheaply as possible to maximise the return to creditors.

What You Will Learn

This course will cover the following:

• The essential timeframe within which the trustee in bankruptcy must make a possession and sale application
• The effect of a late notification of interest by the bankrupt, including recent case law
• How to draft an application for possession and sale, both when there is a trust of land and when there is not, and how to respond to one
• The consequences of a third party claiming a beneficial interest in the property, and the tactics to deploy both as the alleged beneficial owner and the trustee in bankruptcy
• How the application will proceed through court
• What the court will consider when the application is heard, including the case law on what may constitute ‘exceptional circumstances’ sufficient to delay a sale
• Equitable accounting, occupation rent, and the ‘equity of exoneration’ - ‘extras’ for the trustee in bankruptcy to seek
• An alternative approach - an application for a charge on the bankrupt’s home
• ‘Low value’ homes