*Horton (as trustee in bankruptcy of Michael Gerard Henry) v Henry

Insolvency – Bankrupt's estate. The Court of Appeal, Civil Division, dismissed the trustee in bankruptcy's appeal, thus holding, that s 333(1) of the Insolvency Act 1986, read in conjunction with s 310 of that Act, did not enable a trustee in bankruptcy to require a bankrupt, who had reached the age at which he was contractually entitled to draw down or 'crystallise' his pension (but had not done so), to elect to do so, so that the trustee might apply for an income payments order, under s 310 of the Act, in relation to the funds drawn, or to be drawn, down. Since rights under registered personal pension schemes no longer formed part of the bankrupt's estate which vested in the trustee, in the absence of express statutory language conferring such a power, there was no basis for concluding that the court had power to require a bankrupt to exercise his options in any particular way.

Category: