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UK-Justice
UK-Justice, Barrister
Category: UK Bankruptcy Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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Is there a lenght of time which the Official Receiver shpould

Customer Question

Is there a lenght of time which the Official Receiver shpould redeem assts declared to him
Submitted: 1 year ago.
Category: UK Bankruptcy Law
Expert:  UK-Justice replied 1 year ago.
Thanks for your question, I will do whatever I can to help you. Please remember to rate my answer SMILEY FACE OR ABOVE.

-Could you explain your situation a little more?

Customer: replied 1 year ago.

I have a policy from Allied Dunbar now Zurich which although identified to the receiver has not been claimed by them. They are asking for me to get a letter from the Receiver quoting plan no and that they have no further interest. It is complicated by the fact that I was given a conditional discharge No 737 - 1987 on the 19th may 1995 subject to me paying a fee of £3000 I believe my solicitor at that time who is no longer available nor the paperwork to have only paid the first 3 instalments of £250. I do not want to set hairs running if it is to no avail

Expert:  UK-Justice replied 1 year ago.
In answer to your question - no.

The OR does not have a set timeframe to dispose of assets.

The OR can have a charge on a house and take years to liquidate it.

So no - there are no rules in Insolvency that means assets have to be dealt with in a particular timeframe.

I am sorry if this is not the answer you are after, but based on what you have said, this is the legal position.



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Customer: replied 1 year ago.


Is the Document signed by the High Court of justice saying "The applicant is discharged upon his consenting to Judgement" (as previously explained to you) sufficient for the Insurance Company to release the sum associated with the insurance or is it necessary for me to contact the O.R for the document suggested by Zurich as it is almost 18 years ago. I hope you understand my reluctance to begin corresponding with the OR. In particular as i have little paperwork of my own due to my house being flooded 5 years ago and the upset that all of this may cause.

Expert:  UK-Justice replied 1 year ago.
Yes I can see why.

I agree that you should not rock the boat unless you have to.

But the OR does not have a time limit.......................



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Customer: replied 1 year ago.


Thankyou for that but what about the question as to the Bankruptcy Discharge document being sufficient

Expert:  UK-Justice replied 1 year ago.
Yes that should be sufficient.

If you have complied with it then you can apply to be discharged - the document seems fine.

It is clear if you comply your obligations cease.


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Customer: replied 1 year ago.


So I think you are saying there is another document for discharge overand above that which I have.


 


As I do not know if the full £3000 has been paid and given that I cannot prove or disprove (I think only £750 was paid 17 years ago) it is unlikely that the OR will provide the letter as requested by the Insurance Company and can he add interest to the remaining £2250 if this is the case?

Expert:  UK-Justice replied 1 year ago.
I would not think so as I think the document you have is enough, they can contact the company if necessary.

Its not for you to prove - its for the OR.




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UK-Justice, Barrister
Satisfied Customers: 16193
Experience: Called to the Bar in 2007
UK-Justice and other UK Bankruptcy Law Specialists are ready to help you
Expert:  UK-Justice replied 1 year ago.
I'm just following up with you to see how everything is going. Did my answer help?

UK-Justice
Customer: replied 1 year ago.


Yes a little although you did not answer a point,


 


can he add interest to the remaining £2250 if this is the case?


 


The discharge document I have must be the Courts and the question re interest is not in the OR remit Possible?


 


I have subsequently spoken to the OR's Office and they inform me that I was discharged 6th July 1990. I asked about the letter for the Insurance Company.and they are looking into it. I have still not received a similar letter from the National Westminster Bank although they have said on the telephone that they would, I chased them on Friday

Expert:  UK-Justice replied 1 year ago.
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Customer: replied 1 year ago.


I have spoken to the OR but she has now gone on holiday until March. Debra who is taking her calls and I had a converstion yesterday (with difficulty as she could not speak much English and she has passed it on to someone else I have also sent a letter which they cannot find therefore I have e-mailed it to them (Detail of letter pasted in for information below) I have also spoken to the NWB as i have received nothing from them again they have promised next week.


 


I get the feeling that the OR will not send a letter to me releasing the Policy which I think is discusting as the OR told me I was discharged on the 6th July 1990 therefore they must have forgotten about it all until I raised it, I did continue paying the Policy until 2004.


 


Do something stupid like I did and you never get shut of it. It is upsetting to my wife and myself having to go through it all again but at least if I can get it sorted if anything happens to me it is not left to my wife.


 


Ms Debra Pinto


Insolvency Service


2nd Floor, Sunley House


Bedford Park


Croydon


CR9 1TX



Dear Ms Debra Pinto



Ref BKT01050389





Further to my very helpful telephone conversation of today with yourself.



Thankyou for arranging to send a formal Discharge Letter which I look forward to receiving. (Discharged 6th July 1990).



As a reminder of the conversation I am trying to confirm with the Insurance Company Zurich that I am discharged from Bankruptcy and that you the Official Rreceiver do not have any Interest with the following Plan Reference,



Allied Dunbar now Zurich, Plan No 8845-094.



To comply with Zurich regulations I require my discharge documentation (which you are sending) and a letter to confirm that you have no further interest in the plan quoting the above plan number from your offices for me to send to the Insurance Company Zurich.




Thank-you for all your assistance.




Yours sincerely,


 


 


Mr Michael Wilfred Spencer.


 


Expert:  UK-Justice replied 1 year ago.
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Customer: replied 1 year ago.


I have spokern to the OR this morning as I have now received the confirmation of no interest in the policy from the NWB and informed them of this.


 


I was told this morning by the OR that they can take the Policy at any time. As a result I have written to the OR with points on why I should have the Policy contents. A copy of the e-mail I have sent is below


 


(Dear Carmel,


 


Further to our telephone conversations this morning and the explanations given, I attach the letter received from the National Westminster Bank for information.


 


A point that I did not mention in our conversation this morning that due to me being advised many years ago by my Solicitor who is no longer practising or available that the policy was not available to the OR. Due to this I continued paying into the Policy until 2002 65th Birthday also the policy was not paid up until 2008 my 70th Birthday. I therefore cannot really understand why now there is doubt as to my rights to this Policy. Especially as it appears to me that it has been filed away as completed.


 


I therefore await your considerations which I understand may take up to 21 Days to resolve.


 


Once again thank-you for the information given


 


M Spencer)


 


 


Given all of this can you advise me on what grounds do you feel that I may be able to appeal if necessary regarding their decision.


 

Expert:  UK-Justice replied 1 year ago.
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UK-Justice
UK-Justice
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Called to the Bar in 2007