Official Trustee

The Official Trustee administers bankrupt estates where a Registered Trustee (a Private Bankruptcy Trustee) has not consented to act.  The Official Trustee is also a public officer under the employ of the Inspector General in Bankruptcy  of Insolvency Trustee Service Australia.

The Official Trustee can appoint (ie out source) a bankrupt estate to a Registered Trustee. The Official Trustee will typically administer bankrupt estates that have not funds (ie no assets to realise) or statutory income contributions to collect, however, that is not always the case.  The Official Trustee won’t charge a fee to administer the estate unless assets are to be realised or statutory income contributions are to be collected.  The Official Trustee may charge a flat fee of $3,000 plus 20% of realisations.