New Form to Consent to Act as Trustee of Bankrupt Estate

As of 1 July 2009, there is a new form for completion by proposed trustees in bankruptcy who consent to act.

The new form provides for the proposed trustee or trustees to indicate on the form whether the consent is provided to act as sole, joint, or joint and several trustee(s) of the bankrupt estate.

The new form also provides for the insertion of the particular Court or ITSA reference number when applicable to the process under the Bankruptcy Act 1966 pursuant to which the trustee has been requested to consent.

The new form clarifies that if trustees are appointed jointly, then they will need to jointly execute all documents in the bankruptcy administration, whereas trustees appointed jointly and severally can each execute documents in the bankruptcy administration on their own.

The new form is available on the ITSA website, which can be accessed by this link.