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Sale of assets to inspector

Can a trustee sell an asset to one of the inspectors? What is the governing section of the act?

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One Response to “Sale of assets to inspector”

Barton Goth GCO Bankruptcy Trustees said...

Yes, it is possible for a trustee to sell an asset to one of the inspectors. However to do so S. 120(1) requres that court approval is required prior to the sale. If a sale is made to an inspector without a court order, the sale is not valid.