Insolvency practitioner bonds held on trust: insolvent estates and successor IPs can take control of claims

Nick Payne of Mishcon de Reya outlines how the High Court’s decision in Nicholson v Insolvency Practitioners Association confirms that IP bonds are held on trust for insolvent estates and can be transferred to successor office-holders under section 234 of the Insolvency Act 1986, giving estates a clearer route to pursue claims where former IPs are alleged to have acted fraudulently or dishonestly.

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