Suhana is the trustee of gina's bankrupt estate. Gina owns a boutique business which operates from rented premises in a local shopping centre. The business itself is successful. The petitioner's debt is not business related. Gina is a qualified engineer and if she were to give up the shop she could earn $ 130,000 p.a as an employee . Gina is single and has no dependents. Gina owns an apartment which is worth $ 5,00,000 secured to town bank. The outstanding mortgage is $ 3,30,000. The petitioner's debt is $ 80,000. Additional unsecured debts for the business are approximately $ 30,000. Gina has a personal credit card debt of $ 10,000. Gina leases a car. She owns furniture, clothes, jewelry, a musical instrument and other personal assets. Gina also has $ 2,00,000 in a supwr annuation fund. Unfair preferences were paid to six creditors prior to the presentation of the creditors petition which totalled $ 43,00. Required: assume you are suhana in a roughly chronological order . What actions you will take and decisions you will make as a trustee of the estate.
Suhana is the trustee of gina's bankrupt estate. Gina owns a boutique business which operates from rented premises in a local shopping centre. The business itself is successful. The petitioner's debt is not business related. Gina is a qualified engineer and if she were to give up the shop she could earn $ 130,000 p.a as an employee . Gina is single and has no dependents. Gina owns an apartment which is worth $ 5,00,000 secured to town bank. The outstanding mortgage is $ 3,30,000. The petitioner's debt is $ 80,000. Additional unsecured debts for the business are approximately $ 30,000. Gina has a personal credit card debt of $ 10,000. Gina leases a car. She owns furniture, clothes, jewelry, a musical instrument and other personal assets. Gina also has $ 2,00,000 in a supwr annuation fund. Unfair preferences were paid to six creditors prior to the presentation of the creditors petition which totalled $ 43,00.
Required: assume you are suhana in a roughly chronological order . What actions you will take and decisions you will make as a trustee of the estate.
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