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Topic starter
07/03/2014 10:34 am
Had a e mail back from my Trustee's Solicitor stating such an offer is not legally binding so he will not be paying my creditors any dividend under my offer of composition . Can any expert comment on the terms of a Trust deed which makes it legally binding if accepted . or if its not legally binding , then why is it not ??.
07/03/2014 12:14 pm
Hi Pinalta,
According to my trustee an offer of composition is acceptable, I have an email from them stating that my trustee made the offer for me and that my creditors accepted it!
Tonyd
Topic starter
07/03/2014 12:36 pm
Thanks Tonyd , what I am trying to find out is it legally binding , I take it its a contract so must be binding on both parties if signed by such .
07/03/2014 1:39 pm
The only time I can imagine a Trustee would go back on such an offer would be where additional information or assets come to light that means the offer was based on a false premise and the completion of the offer would be prejudicial to the creditors.
Topic starter
07/03/2014 3:29 pm
Nothing hidden , was up front from the start .
09/03/2014 9:40 am
Hi Pinalta
The trustee appears to have given his reason for this by stating that an offer of composition is not possible in a trust deed. The main problem the trustee has is firstly his trust deed document states that the it will terminate on ANY agreed offer of composition, but even stranger is the fact that he has put an offer of composition in a trust deed to creditors and had it ageed!
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
09/03/2014 10:36 am
No wonder there is a shortage of water in my house , after investigation it was found there had been a massive extraction of h20 for 8 years , and the source was located to a packet OF NUTS INSIDE A BUZZBY TOY .
Glad to say we also have a copy of the letter that he wrote , so how come he can make an offer then say you cant ?? . Obvious lies on sight of concrete proof .[:D]
09/03/2014 12:16 pm
I wonder how he will try to put the lid back onto this can of worms that appear to have opened up on him?
Tony
Topic starter
09/03/2014 2:25 pm
With so many worms around it would be wise to go fishing .[^]
Topic starter
09/03/2014 7:26 pm
Quick question ......... Could you bill your Trustee for work that you had to carry out to close your trust deed because he was not actively seeking his discharge or progressing the debtors discharge ??. After all the work done should reflect the wishes of creditors , and I have being doing work to ensure that my creditors wishes are carried out with absolute proof he has being doing the opposite . Not to mention the fees of my advisors in helping me , think I need a spin doctor to stall things to enable me to issue another fee circular . Oh and charge for that , and more fees for me at the same time .[?]
