tracing and third parties

Guest

13th January 2021, 14:52:PM

What do I do in this scenario when the trustee is insolvent and the money has been passed to a third party (Bella)?

Gloria is also the beneficiary of a trust. The trustee, Alice, has recently been experiencing some financial difficulties. Alice uses £10,000 of the trust money to pay a debt she owes to Bella. After the transfer, Bella has £20,000 in her bank account. Bella uses £5,000 to invest in some shares in Ms Magazine plc and another £5,000 to pay off the remaining balance she owed for the installation of a new kitchen.

Please help!!!

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tracing and third parties

tracing and third parties

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