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Bankruptcy

by Chris Gaine — last modified 2008-01-24 03:08

Bankruptcy

Bankruptcy is where the court appoints someone to take over the management of a client's existing financial affairs. The person appointed is called a trustee, who may be someone from the Official Receiver's Office or a qualified insolvency practitioner. The Official Receiver's Office is part of The Insolvency Service, an executive agency of the Department of Trade and Industry.
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