Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between the Official Receiver and the Trustee?

0
Posted

What is the difference between the Official Receiver and the Trustee?

0

The Official Receiver is responsible for protecting your estate and investigating your affairs. A trustee will be responsible for taking possession of assets, selling them and distributing the proceeds to your creditors on a pro-rata basis. A trustee will only be appointed by the Official Receiver if there are significant assets. In some circumstances the Official Receiver may become the Trustee.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123