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The following items of property were listed in Beverleys bankruptcy form . Please determine which...

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Accounting

The following items of property were listed in Beverleys bankruptcy form .

Please determine which items are divisible property and which items are non-divisible property.

Provide justifications for your choice, including references to the Bankruptcy Act, Bankruptcy Regulations and Insolvency Practice Rules (Bankruptcy) 2016.

  1. A box trailer used by Beverley to deliver furniture to her clients premises ($3,500).
  2. A motor vehicle jointly owned by Beverley and Thomas ($10,000).
  3. A Janome deluxe sewing machine, a gift from Beverleys father to Beverley on her birthday ($4000). Beverley uses the sewing machine to produce custom -made designer curtains and drapes for her clients.
  4. Beverley is the executor of her deceased mothers estate and she has the proceeds of her assets deposited in a bank account awaiting distribution to beneficiaries ($150,000)
  5. Beverleys share of her mothers deceased estate (20,000)
  6. $30,000 in a bank account received by Beverley in respect of a successful claim for damages against a client who breached a contract .

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