32.
out" Creditors assignee
assignees". If
more
See
than one be appointed a procedure should be
laid down as to their joint
action how
and several
far
the orders, arrangements
and acts
of a
lesser number than the whole
binding on the body of Creditors
will be valid or brinding
Yea
A single assignee is doubtless the most convenient plan but in large Eclates Creditors
would naturally prefer a Committee while
it might likewise be very difficult to find
- single person willing to undertake the
a-
great labour and responsibility of Acting
alone.
Sec. 32. Add. "And it is hereby provided that
the Insolvent himself.
may
be appointed
as such manager if Elected by the Creditors and approved of by the bourt."
27.
Sec. 52.
as
40633
To not this substantially the same
Sec. 36. Et-Seq: and might not the
two be in corporated together.-
This is rather
an
important; clause as it
practically may give a minority of Creditors the power of Settting the procedure to be adopted by the majority where the creditors
are abroad or cannot be communicated
with immediately power should be reserved to them (bering a majority)
to rescinde
composition
dany.
or deed of arrangement entered,
into and again to throw the Estate into - Insolvency if so minded. In
the bulk of the lerediton
many
Estalis
are in England.
or elsewhere at a distance and it might
very easily happen that they would be disposed to shew less leniency to an