Podcast Location:
Download it here [file size: 19.4 MB]
Categories:
Insolvency & Restructuring
Charities
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to familiarise the listener with the consequences for a trust if one of the parties to it becomes insolvent. Taking the settlor, the trustee and the beneficiary in turn, it considers whether the trust can carry on, who is entitled to it and whether assets can be put at risk

Outcomes:
After completing the course you will:
  • Understand the consequences for a trust if the settlor becomes bankrupt;
  • Understand the circumstances under which a disposition into trust can be revoked or set aside by a liquidator;
  • Understand the consequences for a beneficiary if such a course is take, what rights they have and what role the trustee should play;
  • Understand the consequences if a trustee becomes insolvent;
  • Understand who is able to act as a trustee in such circumstances;
  • Understand what happens to trust property when a beneficiary becomes insolvent;
  • Be aware of the role of protective trusts and the ambit of the liquidator’s right to take over the property and rights of the beneficiary.
Level:
Intermediate Difficulty: 3 of 5
Classification:
Legal Principles
Sources and References:
  • Insolvency Act 1986 s 339, 423, 341;
  • Alsop Wilkinson v Neary [1996] 1 WLR 1220;
  • Re Berkley Applegate (Investment Consultants) Ltd [1989] Ch 32.
Tags:

If someone connected to a trust becomes insolvent, whether settlor, trustee or beneficiary, will it matter? Nicholas Le Poidevin QC or New Square Chambers discusses if so, how and in what way.

Podcast addded: 04/11/10

Podcast last reviewed: 2011-04-26

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