any property held by him may be distributed among creditors;
and
the High Court may disregard any inadequacy in the
realisable property which appears to the High Court to be
attributable wholly or partly to anything done by the
defendant for the purpose of preserving any property held
by a person to whom the defendant had directly or
indirectly made a gift caught by this Ordinance from any
risk of realisation under this Ordinance.
Bankruptcy of defendant, etc.
16. (1) Where a person who holds realisable property is
adjudged bankrupt
--
(a)
property for the time being subject to a restraint order
made before the order adjudging him bankrupt; and
(b)
any proceeds of property realised by virtue of section
10(7) or 12(5) or (6) for the time being in the hands of a
receiver appointed under section 10 or 12,
are excluded from the property of the bankrupt for the purposes of
the Bankruptcy Ordinance (Cap. 6).
(2) Where a person has been adjudged bankrupt, the powers
conferred on the High Court by sections 10 to 13 shall not be
exercised in relation to