Respond with ownership and transaction evidence, even if you believe the asset is protected or belongs to someone else. Let the trustee assess the facts.
Corporate Recovery Partners
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An old asset record needs a documented explanation
A bankruptcy trustee asks about a trailer shown in an old insurance schedule. The bankrupt person says it belongs to a relative now but cannot immediately find the sale record. The trailer remains at the same property. A dismissive reply would leave the important questions unanswered: who owned it, what changed and what evidence supports the explanation.
Identify the asset, period, documents and response date requested. Confirm the trustee’s contact details through the established channel. Ask for clarification if the description could refer to more than one item.
AFSA explains the obligation to provide financial information and disclose relevant assets or changes. Do not ignore the request because you expect the asset to fall outside the estate.
Locate purchase records, registration, finance, insurance, sale documents and bank evidence of payment. Explain who has possession and how the asset has been used.
Registration or possession may not answer every ownership question. Present the complete history and identify missing records rather than selecting only the document that appears most favourable.
If the asset was sold or given away, record when, to whom, on what terms and what consideration was received. Include the relationship between the parties.
Do not backdate a receipt, move the asset or ask someone to adopt a false explanation. Obtain independent legal advice if the transaction raises concerns, while preserving evidence and responding through the proper process.
Send organised copies with a concise chronology and retain what was provided. If a document cannot be found, explain the searches and possible alternative evidence.
Ask the trustee to clarify any further request or decision affecting the asset. Disagreement should be handled through advice and the applicable review process, not by withholding the information needed to assess it.
