Does anyone know what happens if you receive a compensation payment - but after being discharged from bankruptcy.
Normally any windfalls such as winning the lottery are yours to keep once discharged from bankruptcy - even if involved in a Income payments order for another 2 year.
But in this instance due to the fact that the compensation is for an event that occurred before BR, albeit with the windfall received after BR, what happens?
(Also - may I add the bank involved was the sole creditor in BR.)
I do know that the assignee is treating compensations for redress different to normal windfalls due to the unique nature of the circumstance. (A family member received a payment during BR and was allowed keep 70% of it)
Also - I've seen the below link whereby it was split 70/30 where the assignee gets 30%. But it is not clear if this is when those individuals were in their bankruptcy year when they received their compensation - or if they were out of BR. My query is for when you receive the compensation after being discharged from BR.
https://www.irishtimes.com/business...tomers-awarded-tracker-compensation-1.2734141
And as an additional query - the above article suggests that they got compensation for being declared BR. IS that a legal precedent there meaning that all BR people who got tracker redress should also be entitled to additional compensation on the basis they went BR?
Normally any windfalls such as winning the lottery are yours to keep once discharged from bankruptcy - even if involved in a Income payments order for another 2 year.
But in this instance due to the fact that the compensation is for an event that occurred before BR, albeit with the windfall received after BR, what happens?
(Also - may I add the bank involved was the sole creditor in BR.)
I do know that the assignee is treating compensations for redress different to normal windfalls due to the unique nature of the circumstance. (A family member received a payment during BR and was allowed keep 70% of it)
Also - I've seen the below link whereby it was split 70/30 where the assignee gets 30%. But it is not clear if this is when those individuals were in their bankruptcy year when they received their compensation - or if they were out of BR. My query is for when you receive the compensation after being discharged from BR.
https://www.irishtimes.com/business...tomers-awarded-tracker-compensation-1.2734141
And as an additional query - the above article suggests that they got compensation for being declared BR. IS that a legal precedent there meaning that all BR people who got tracker redress should also be entitled to additional compensation on the basis they went BR?
Last edited: