The rights of trustees in sequestration and trustees of protected trust deeds to damages, compensation or other awards made to a debtor during the period of sequestration or the duration of the protected trust deed.
Despite the clunky title, this matters. Banks are giving former customers PPI compensation. Awards will be made to Post Office employees and to people infected with contaminated blood products. Victims of sexual violence may successfully sue their attackers. Personal injury claims result in pay-outs from insurers. HMRC return over-payments of tax. Recipients of these awards or pay-outs may be sequestrated or be in a protected trust deed.
This hour-long seminar, designed for litigation lawyers, will explore the following:
- the requirements for being sequestrated or entering a protected trust deed
- what is a protected trust deed?
- establishing if the client is sequestrated or in a trust deed
- the significance to the debtor of being sequestrated or in a trust deed
- the rôle of the trustee in each case
- what assets vest in the trustee in each case
- the distinction between income and assets
- the case law relating to acquirenda, including the outcome of litigation
- the rights of the trustee and debtor to redundancy payments, criminal injuries compensation, the proceeds of critical illness policies and other payments
- what happens if the debtor does not disclose any such payments
