The bankrupt had taken out insurance against disability. He came to make a claim. He asserted that the benefits were personal to him, and not to be taken by the trustee in bankruptcy for the benefit of creditors. The court held that the benefits were contractual, forming part of the bankrupts general estate. There was no precedent for excepting from the bankrupt’s estate, assets on the basis of some close and personal connection with or dependence on the condition of the bankrupt.
Citations:
Times 15-Mar-2001, Gazette 03-May-2001
Jurisdiction:
England and Wales
Insurance, Insolvency
Updated: 08 May 2022; Ref: scu.79506