- Sun Nov 04, 2012 10:05 pm
OK this is a difficult one, as there are aspects that we just don't know about, as these are personal circumstances, on your behalf and interpretation by the OR, so we cannot give a definitive answer.
The OR has a normal maximum of 3 years to deal with property and property issues, if they need to go beyond that window they need to convince a court.
However, there are three rules of thumb and an sting in the tail here:
1. The OR will have to take into account the return that pursuing this would yield, it would have to be high enough to make it worthwhile to the estate.
2. The OR will properly exclude you from this and go purely for the benefactor of the GA.
3. Such alienations in the period up to 5 years prior to the date of sequestration are open to a statutory challenge by the permanent trustee, so if it is before then they can only ask, they cant really enforce.
And the sting. With these if they beleive it requires vigorous court action then they will move without warning, the first the Benefactor may know about this is the serving of court papers!!
Now the second however.....
If the OR has discharged the bankruptcy, and concluded their business, it may well be that they are not going to chase this, but with GA's they wont tell you this, as they are somewhat miffed with you!!
This is one you are going to have to sweat on until 3 years from Bankruptcy date, but with each day any action will be less likely.
Sorry we couldn't be more helpful, but as I said as these are personal circumstances, on your behalf and interpretation by the OR, we cannot give a definitive answer.