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A creditor of an insolvent company or individual can only obtain priority over other unsecured creditors if it can be established that there us a proprietary interest. This text outlines a clear set of legal principles which can be used to resolve the practical problems arising from an insolvency where a proprietary claim is advanced. In doing so, it will look at the ways which a creditor can trace assets which have fallen into the hands of third parties, or trace the product of assets in the hands of an insolvent party. It will also cover the means by which a person can retain proprietary interest in an asset that comes into the hands of an insolvent party as well as the ways in which a creditor can obtain an interest in the asset.