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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

01 FEB 2012

An obstacle to the hunt for recoveries

Introduction

Trustees in bankruptcy well know what it is like to take an appointment where the bankrupt is convinced that he has a strong cause of action against a third party, in particular one who it is alleged have brought about the financial difficulties. There is an obvious reluctance to issue, or continue, proceedings based upon the evidence of someone with an axe to grind. It is commonly thought that the trustee is free to dispose of the cause of action back to the bankrupt free of any potential costs liability in respect of those proceedings. Unfortunately, the Court of Appeal has recently confirmed that such a view is not automatically the case.


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