ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
(2.) Such interest and costs as shall be due in respect of any of the debts.
But there shall not be reckoned-
(1.) The amount of any debt in respect of which the petitioner has already been adjudged entitled to have the benefit of the Ordinance No. 3 of 1846.
(2.) Debts barred by any Statute of Limitations.
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44. Any creditor, whose debt is sufficient to entitle him to petition for adjudication against all the partners of any firm, may petition for such adjudication against one or more partners of such firm; and every such petition shall be valid, although it does not include all the partners of the firm; and in every petition for adjudication against two or more persons, the Court may dismiss the same, as to one or more of such persons, and the validity of such petition shall not be thereby affected as to any person as to whom such petition is not ordered to be dismissed, nor shall any such person's discharge be thereby affected.
45. If the petitioning creditor shall not proceed and obtain adjudication within three days after his petition shall have been filed, or within such time as shall be allowed by the Court, the Court may at any time on the expiration of such three days, or of such extended time as the case may be, upon the petition of any other creditor entitled to petition, proceed to adjudicate on such last mentioned petition.
to petition against all the partners of a firm, may petition against one: and the Court may dismiss petitions.
Where petitioner does not proceed.
Court may adjudge the debtor bankrupt.
46. The Court may upon due proof of the petitioning creditor's debt, and upon due proof of an act of bankruptcy having been committed by the debtor, adjudge the debtor bankrupt, and may appoint a day for the bankrupt to surrender and conform.
If petitioning creditor's debt be found insufficient, Court may proceed on petition of any other creditor.
47. If after adjudication the debt of the petitioning creditor be found by the Court to be insufficient to support such adjudication, the Court may, upon the application of any other creditor, having proved any debt sufficient to support an adjudication, order the petition for adjudication to be proceeded in, and it shall by such order be deemed valid.
48. If two or more petitions for adjudication be filed by, or against, the same person, or if a petition be filed by, or against, a member of a firm, and another petition be filed by, or against, another member of the same firm, the Court may consolidate the proceedings or any part thereof.
Court may impound and consolidate proceedings or petitions.