Jurisdiction(s):
United Kingdom

Key definition

Trustee in bankruptcy definition

What does Trustee in bankruptcy mean? A trustee in bankruptcy is the insolvency practitioner who takes control of a bankrupt individual’s estate, realises assets and distributes the proceeds to creditors. In England and Wales and in Northern Ireland, this is a statutory office under the insolvency Act 1986 and the Insolvency (Northern Ireland) Order 1989. The trustee is usually an authorised insolvency practitioner appointed by creditors, the Secretary of State/Department, or the court after a bankruptcy order; the Official Receiver may act until then. On appointment, the bankrupt’s estate vests in the trustee, who investigates affairs, recovers assets (including challenging transactions at an...

LPA or Fixed Charge Receivers: Agency, Rent Collection, Sale, Leasehold/Freehold Issues, Developments, Rates and Statutory Liabilities (England and Wales)

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Practice notes

Impact of appointment

The consequences of appointing a receiver under the Law of Property Act 1925 (LPA 1925), or following a fixed charge (described in this Practice Note as an LPA/fixed charge receiver), differ markedly from the appointment of an administrator, liquidator, or a Trustee in bankruptcy. This should not be conflated with those appointments. Putting in place an LPA/fixed charge receiver is a Mortgagee’s remedy. It is not an Insolvency process and does not, of itself, indicate that the mortgagor is insolvent. It does not, as such, amount to insolvency. Subject to the lease terms, landlord/lessor remedies—such as forfeiture—available when a lessee enters an insolvency process may not be engaged merely because an LPA/fixed charge receiver is appointed. That said, the appointment does simply affect the property, though the consequences are less severe than where insolvency procedures are actually underway. The principal consequence of installing an LPA/fixed charge receiver concerns the mortgagor’s role in relation to the property.

LPA/fixed charge receiver as agent of the mortgagor

An LPA/fixed charge receiver is treated as the mortgagor’s agent (and not the mortgagee’s), unless the mortgage deed stipulates otherwise...

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Web page updated on 29/05/2026

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