OR / Trustees / IP - confused

ascot64

I know from these boards that most recommend not bothering with an IP.

However in my situation I have a partnership business which is fairly valuable and if handled correctly could be sold.

What I am wondering is if I use an IP will the OR appoint him as the trustee automatically or can I request that he be used.

Or will the OR appoint someone else?

tigerfeet2006

To be honest Ascot I don't know. Give Business Debtline or the Insolvency Service a ring and ask them, numbers are in my signature.

Please let us know what they have to say as it may be of help to someone else.

JCS1

Hi - you cannot suggest an IP to the OR. Usually there would be a meeting of creditors, and the majority creditor can nominate who they want. If no majority creditor than it goes to a vote.

If no IP nominated, then OR will appoint from a rota that they use.