1172 THE HONGKONG GOVERNMENT GAZETTE, 29TH NOVEMBER, 1890.
Receiving order.
Conditions
on which
creditors may petition.
Creditor's petition.
(e.) If execution issued against him in any civil proceeding has been levied by seizure and sale of his goods or property under process.
(f) If he filles in the Court a declaration of his inability to pay his debts in the Form No. 2 of Schedule A or presents a bankruptcy petition in Form No. 3 of Schedule A against himself. (9.) If a creditor has obtained a final judgment against him for any amount and execution thereon not having been stayed has served on him in Hong- kong or by leave of the Court elsewhere a bank- ruptcy notice under this Ordinance requiring him to pay the judgment debt in accordance with the terms of the judgment or to secure or compound for it to the satisfaction of the creditor or the Court and he does not within the time allowed by the Civil Procedure Rules for appearance to a writ of summons either comply with the require- ments of the notice or satisfy the Court that he has a counter-claim set-off or cross-demand which equals or exceeds the amount of the judgment debt and which he could not set up in the action in which the judgment was obtained.
(h.) If the debtor gives notice to any of his creditors that he has suspended or that he is about to suspend payment of his debts.
(2.) A bankruptcy notice under this Ordinance shall be in the Form No. 4 of Schedule A hereto and shall be issued to a judgment creditor by the Registrar upon the filing of a request in the Form No. 5 of the said Schedule. Receiving Order and appointment and duties of the Official Receiver.
5. Subject to the conditions hereinafter specified if a debtor commits an act of bankruptcy the Court may on a bankruptcy petition being presented either by a creditor or by the debtor make an order (Form No. 8 of Schedule A) called a "receiving order" for the protection of the
estate.
6. (1.) A creditor shall not be entitled to present a bankruptcy petition against a debtor unless-
(a.) The debt owing by the debtor to the petitioning creditor or if two or more creditors join in the petition the aggregate amount of debts owing to the several petitioning creditors amounts to two hundred dollars and
(b.) The debt is a liquidated sum' payable either
immediately or at some certain future time and (c.) The act of bankruptcy on which the petition is grounded has occurred within six months before the presentation of the petition and
(d.) The debtor or if he is a member of a firm and the proceedings are against the firm his partner or one of his partners is domiciled in Hongkong or within a year before the date of the presentation of the petition has ordinarily resided or had a dwelling- house and the debtor or his firm has within the same period had a place of business in Hongkong. (2.) If the petitioning creditor is a secured creditor he must in his petition either state that he is willing to give up his security for the benefit of the creditors in the event of the debtor being adjudged bankrupt or give an estimate of the value of his security. In the latter case he may be admitted as a petitioning creditor to the extent of the balance of the debt due to him after deducting the value so estimated in the same manner as if he were an unsecured creditor.
7. (1.) A creditor's petition (Form No. 6 of Schedule A) shall be verified by affidavit of the creditor or of some person on his behalf having knowledge of the facts and served in the same manner as a writ of summons. It shall not be heard until the expiration of eight days from the service thereof unless by leave of the Court on good cause shown.
(2.) At the hearing the Court shall require proof of the debt of the petitioning creditor of the service of the petition which may be effected in the same way as the service of a writ of summons and of the act of bankruptcy .or if more than one act of bankruptcy is alleged in the petition of some one of the alleged acts of bankruptcy and if satisfied with the proof may make a receiving order in pursuance of the petition.