Is this legal?

Hi all, I chose bankruptcy as an option in 1995, and went through the process with the DTI etc. I was advised at the time that having made the decision I would be able to restart my life without fear of threatening letters etc. I declared all of my so called "assets" which included a single payment investment insurance which was given to me by a friend to assist in my retirement. I was told at the time that this would not be included and that the DTI had "no interest......and it was not an asset that could be touched". I completed the 2 year repayment plan that was assessed as being "right for me" and after the usual 6 years I was debt free. I have now reached the age of 60 when the investment insurance should have become available to me but I was advised by the insurance company that Trustee in Bankruptcy had shown an interest in the policy. I have since contacted the relevant person involved and have been informed that all or part of this investment can be used against the past debt. Having explained that my bankruptcy was dischrged in 2001 and that I have received no written information either at the time or since that this policy was still available to the creditors, I was told that "discharge" did not mean completion, and therefore this insurance would be looked at and any creditors that had posted an interest at the time would be contacted and monies used to repay them. There seems to be no recourse to anyone else and I am concerned that with bankruptcy levels rising again others could be affected many years after they declare themselves bankrupt. The only other information I received was that in 1995 a lot of new staff were appointed and training was not at its best and therefore I may not have received the correct information. I therefore ask is it fair, or right that such a situation can occur?