Events

MBL Seminars: Trusts & Insolvency – The Implications Explored

December 14, 2023, 12:30 pm to 1:00 pm

This short webinar will discuss the interaction of trusts and insolvency.

First, it will consider how a trustee of an ‘insolvency trust’ ought to behave, what they must consider and how the rights and entitlements of the trustee, beneficiaries and creditors interact in the face of insolvency.

It will then look at the implications of trusts in a typical insolvency process and how insolvency practitioners should navigate trust property when seeking to carry out a bankruptcy or corporate insolvency process.

Further info

Relevant case law will also be considered including BTI v Sequana, Equity Trust v Halabi and Adams v FS Capital Limited.

Topics

This webinar will cover the following:

  • What is an ‘insolvent trust’?
  • What are the duties of a trustee of an insolvent or potentially insolvent trust?
  • How are the claims and interests of creditors, trustees and beneficiaries balanced in such a scenario?
  • How does insolvency impact upon the exercise of trustee powers?
  • How should an insolvency practitioner administer trust property forming part of an insolvent liquidation or administration?
  • How do distribution plans operate and when are they appropriate?
  • What duties do IPs owe towards the beneficiaries of trust property forming part of the estate to be administered and what role does the court play?

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