50
Administra-tion in bankruptcy of estate of person dying insolvent.
46 & 47 Vict. c. 52 s. 125.
First Schedule: Form No. 74 = Form No. 9.
No. 7.1
THE ORDINANCES OF HONGKONG: [A.D. 1891]
Registrar of the Court, who shall carry the same to an account to be termed "The Bankruptcy Estates Account." The Registrar's receipt for the money so paid shall be a sufficient discharge to the Trustee in respect thereof.
(2.) The Trustee, whether he has obtained his release or not, may be called upon by the Court to account for any unclaimed funds or dividends, and any failure to comply with the requisitions of the Court in this behalf may be dealt with as a contempt of Court.
(3.) Any person claiming to be entitled to any moneys paid into the Bankruptcy Estates Account may, within five years of the date when the same was so paid in, apply to the Registrar for payment to him of the same, and the Registrar, if satisfied that the person claiming is entitled, shall make an order for the payment to such person of the sum due. Any person dissatisfied with the decision of the Registrar may appeal to the Court.
(4.) After any money has remained unclaimed in the Bankruptcy Estates Account for a period of five years, the Registrar shall pay the same over to the Colonial Treasurer for the use of the Crown, and claims thereon shall be thenceforth barred.
Administration of Estates according to Law of Bankruptcy.
81.-(1.) A creditor of a deceased debtor whose estate is shown to be insufficient for the payment of the debts owing by the deceased person may present a petition (the facts alleged in which shall be verified by affidavit) to the Court praying for the administration of the estate of the deceased person according to the law of bankruptcy, and the Court, if satisfied that the estate is insufficient for the payment of the debts of the deceased person, shall make an order accordingly.
(2.) The petition shall be served on the personal representative of such deceased person or, if there is none in the Colony, on the Official Administrator of intestate estates.
(3.) On an order being made for the administration in bankruptcy of the deceased debtor's estate, the Court shall appoint a Trustee in whom all the debtor's property shall vest for the purpose of distribution.
(4.) Subject to the provisions of this section, the provisions of Parts II and III shall, so far as the same are applicable, apply to the case of an order for administration under this section in like manner as to an adjudication of bankruptcy.
(5.) In the administration of the estate of the deceased debtor under an order for administration, funeral and testamentary expenses shall be deemed a preferential debt.
(6.) Notice of the presentation of a petition under this section shall, in the event of an order for administration being made thereon,