70‑10 Right of creditors to request info70‑10 Right of creditors to request information etc. from trustee

70‑10 Right of creditors to request information etc. from trustee

(1) This section is made for the purposes of section 70‑40 of the Insolvency Practice Schedule (Bankruptcy). Unreasonable requests (2) It is not reasonable for the trustee of a regulated debtor’s estate to comply with a request to give information, provide a report or produce a document to the creditors if the trustee, acting in good faith, is of the opinion that: (a) complying with the request would substantially prejudice the interests of one or more creditors or a third party and that prejudice outweighs the benefits of complying with the request; or (b) the information, report or document would be privileged from production in legal proceedings on the ground of legal professional privilege; or (c) disclosure of the information, report or document would found an action by a person for breach of confidence; or (d) there is not sufficient available property to comply with the request; or (e) the information, report or document has already been provided; or (f) the information, report or document is required to be provided under the Act (including regulations made under the Act) within 20 business days of the request being made; or (g) the request is vexatious. (3) Without limiting paragraph (2)(g), a request may be taken to be vexatious if the trustee receives the request within 20 business days of receiving a similar request from the creditors. Reasonable requests (4) It is reasonable for the trustee of a regulated debtor’s estate to comply with a request to give information, provide a report or produce a document to the creditors if subsection (2) does not apply to the request. (5) Despite paragraph (2)(d), (e) or (f), it is also reasonable for the trustee of a regulated debtor’s estate to comply with a request to give information, provide a report or produce a document to the creditors if: (a) the creditors agree to bear the cost of complying with the request; and (b) if required to do so by the trustee—security for the cost of complying with the request is given to the trustee before the request is complied with.