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    Liquidating a trustee company Free online sex chatting games

    The purpose of setting up a trust is usually to protect those assets from either the bankruptcy of an individual or the insolvency of a company.

    liquidating a trustee company-56liquidating a trustee company-78liquidating a trustee company-1liquidating a trustee company-42

    That involves a company acting as the trustee with the professional or a firm of professionals being the directors and shareholders of the company.

    A typical structure for a trust arrangement is to have a company act as a trustee.

    At the time of establishing a trust structure little time is spent by advisers understanding the impact an insolvency of the corporate trustee (“insolvent”) would have on the trust structure and the assets it holds.

    Often trust deeds use standard clauses whereby the insolvency of the corporate trustee automatically disqualifies it from acting as trustee.

    This appears to protect the trust assets from the hands of a liquidator of the insolvent corporate trustee.

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