Can Your Old Trust Deed Be Reopened To Gather In A PPI Claim?
Last Updated: 26th November 2018
Supreme Court Outcome
Earlier this month the Supreme Court issued its judgment on the Dooneen vs Mond case.
The case revolved around whether Mr Mond, an insolvency practitioner, could get the Court’s permission to reopen a trust deed.
The purpose of reopening would be to gather in the proceeds of a PPI claim made by a former (now discharged) trust deed client. Mr Mond, as trustee, had also previously been discharged from this trust deed.
Reopening could allow more funds to be distributed to the creditors. It could also be a fee-earning opportunity for the former trustee.
The Supreme Court found that Mr Mond could not reopen a trust deed in the specific circumstances of this case.
Is That The End Of This?
The Supreme Court’s judgment described the above outcome as being unsatisfactory. Had everything worked as it should, then any such PPI payment really should have been gathered into the trust deed.
It was hinted (in the judgment) that a different line of legal argument might have resulted in a different outcome.
We do not know whether a trustee will (in the future) attempt to use this different line of argument in Court.
About claiming PPI after your trust deed: Click here
About RBS and PPI after a trust deed (set-off): Click here
We regret that we cannot engage with direct enquiries from our visitors in relation to PPI. We’re not trained or authorised to provide you with claims advice or legal advice.
You may be able to find useful information and ask questions about PPI in our forum.
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