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This guidance describes the general functions of Accountant in Bankruptcy, interim trustees, trustees and commissioners in relation to their responsibilities regarding bankruptcies which started on or after 30 November 2016.
The trustee is required to keep a record of the date claims are produced and lodged by them.
The trustee must be satisfied:
the claim was received within 120 days of the date the creditor was notified of the bankruptcy
the debt was incurred prior to the date of bankruptcy and any interest has only been calculated to this date
A trustee can carry out an adjudication of claims at any time. However, as a formal notification provides the debtor and creditors the right of review and appeal against the decision it should only be issued when the trustee has funds available to make a distribution (see section 12.5).