What is the Official Receivers duty ?
The official receiver owes both a common law and a statutory (Rules 4.107 and 6.125) ‘duty of care’ to an IP when providing the trustee or liquidator with the information required to deal effectively with the estate. The official receiver should ensure that the IP is supplied with proper, complete and accurate information regarding the insolvent’s estate. Where appropriate, the examiner should provide notes for the IP encompassing any relevant information which the trustee/liquidator may need to know of. Such as, for example, concerning any urgent disclaimers required, or other possible recoveries, ongoing investigations or uncorroborated information and notes of telephone calls and meetings. An estate may only be handed over to a trustee or liquidator where the IP is duly authorised and qualified to act, i.e. he/she is a licensed insolvency practitioner and holds a current insurance bond. Individual official receivers remain responsible for ensuring that IPs included on their rota are
