Insolvency Rules 2005, Form 383(8) - Notice of Release of Bankruptcy Trustee

Summary

This is a prescribed statutory form under the BVI Insolvency Act 2003 and Insolvency Rules 2005, used by a former bankruptcy trustee to give formal notice that the court has granted their release from office. It is submitted to the Official Receiver in Road Town, Tortola, together with an office copy of the court order of release.

• Purpose: Notifies the Official Receiver that a bankruptcy trustee has been released by court order, either unconditionally or subject to stated conditions.
• Content required: Full name of the bankruptcy proceedings, the trustee's full name, address and practitioner licence number, the date of release, any conditions attached to the release, and the presenter's name, address and reference.
• Attachment: An office copy of the court order granting release must be attached to the notice.

As a blank statutory form, it does not itself impose ongoing regulatory obligations beyond the act of giving this notice once a release order has been obtained.

Key obligations

• A former bankruptcy trustee who has been released by court order must give notice of that release to the Official Receiver using this form.
• The notice must be accompanied by an office copy of the court order of release.
• The form must specify whether the release was granted unconditionally or subject to conditions, and list any conditions.

Applies to

bankruptcy trustees, insolvency practitioners