A.D. 1891.]
BANKRUPTCY.
(No. 7.
15
lien on the property of the debtor or any part thereof as a security for a debt due to him from the debtor :
Special Resolution means a resolution decided by a majority in number and three-fourths in value of the creditors present, personally or by proxy, at a meeting of creditors and voting on the resolution :
Suit” and “Action" are synonymous terms :
The Court" means the Supreme Court :
The Trustee means the trustee in bankruptcy of the debtor's estate.
PART I.
PROCEEDINGS FROM ACT OF BANKRUPTCY TO DISCHARGE.
Acts of Bankruptcy.
3. (1.) A debtor commits an act of bankruptcy in each of the following cases—
(a.) if, in this Colony or elsewhere, he makes a conveyance or assignment of his property to a trustee or trustees for the benefit of his creditors generally; or
(b.) if, in this Colony or elsewhere, he makes a fraudulent conveyance, gift, delivery, or transfer of his property or of any part thereof; or
(c.) if, in this Colony or elsewhere, he makes a conveyance or transfer of his property or any part thereof or creates any charge thereon which would be void as a fraudulent preference if he were adjudged bankrupt; or
(d.) if, with intent to defeat or delay his creditors, he does any of the following things, namely, departs out of this Colony, or, being out of this Colony, remains out of it, or departs from his dwelling house, or otherwise absents himself, or begins to keep house, or removes his property or any part thereof beyond the jurisdiction of the Court; or
if execution against him in any proceedings in the Court has been levied by seizure of his goods, and the goods have been sold or held by the Bailiff of the Court for twenty-one days; or
(f.) if he files in the Court a declaration of his inability to pay his debts or presents a bankruptcy petition against himself; or
(g.) 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 this Colony, or by leave of the Court elsewhere, a bankruptcy 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.