Other Stuff

Question 1

What is a form E

Answer 1

Details assets in divorce proceedings

Question 2

What do you do with claims <£1k?

Answer 2

Need POD for voting but not dividend

Question 3

Does spouse claim attract interest re. Annulment?

Answer 3

Yes

Question 4

What happens if debtor dies post BP but pre-BO?

Answer 4

Proceedings continue as if they were alive plus

If they had joint tenancy, this is lost to T - right of survivorship

Not treated as void

Question 5

What can you do with info obtained through examinations?

Answer 5

Used in evidence in civil but not criminal proceedings.

Question 6

What is redundancy considered in BKY?

Answer 6

An after acquired asset

Question 7

What is a retirement annuity contract?

Answer 7

Likely to be considered a pension

Question 8

What do you apply to salaries in cash flow?

Answer 8

Net of 30% PAYE / NIC

In addition:-

10% employers nic
3% pension

Question 9

What is a consolidation order?

Answer 9

Combines PVAs to IVAs

Question 10

Transfer of matrimonial interest for other party taking sole responsibility for mortgage

Answer 10

Re. Kumar

Question 11

If a Trustee has vacated office what can’t creditors do?

Answer 11

Challenge fees

Question 12

IPO / IPA pension and excessive mortgage payments

Answer 12

Cannot make payments into a pension scheme

If mortgage payments excessive move out and pay rent

Question 13

What can only be done whilst the bankrupt is undischarged?

Answer 13

• BRO/BRU application
• IPO / IPA application
• Propose IVA
• Be made bankrupt a second time
• Public Exam
• After acquired property

Question 14

What is a charging order nisi?

Answer 14

An incomplete execution as not finalised by Court

Question 15

What happens if partnership surplus but one partner made bankrupt?

Answer 15

Split assets 50:50

Question 16

In IVA what is a guarantor?

Answer 16

A contingent debt so mark for £1 until liability is discharged