Many many years ago my client acquired a business. The vendor has recently been made bankrupt. The trustee in bankruptcy is asking some fairly detailed questions about the sale proceeds and about my client's current knowledge of the vendor.
It was a straightforward transaction but the passage of time means finding some of the records is going to be a challenge - therefore useful to know how the land lies.
I assume the Trustee has no legal powers and whether and to what extent answers are given are wholly within the gift of my client. Is that correct?
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not sure i agree with that
the trustee has extremeley wide powers and can impose sanctions for non compliance
if the sale took place in the recent past , say 2 years, the the trustee is within his rights to ask, your client can either answer the questions if he knows the answer or not if he doesnt