CO129-088 - Acting Governor Mercer - 1862 [10-12] — Page 410

36.

Provision should also be made

for the Assignees

or

trustees handing

over to the insolvent

any

surplus which

may

exist: on the eventical.

Winding up of the Estate. nothing is said

about the assignees

(Y

trustees being obliged.

pay

from time to time to declare and

hands. Indeed

dividends out of the funds in their no machinery is ~ prescribed for the distribution of the Insolvents Estate at all, and it does

not appear that the Creditons have much control over the precedings of the assignces or trustees after thing have appointed them.

Sec. 4444

once

By Mr. Purdon.

fairly-

is not comprehensible - Perhaps the

"Creditor" in second line should read

408

"debtor" but the debtor's name must appear

as

in a trust deed of that nature. If sometimes happens there actually result a surplus the trustee holds it for the former deblo's advantage - A short statement of

the native and

effect there of " - whild not

I suppose include amounts owing to each

@reditor. These latter generally

are aberse

such

publicity Is it

for a jung

or a

judge

alone to

Sec. 520 54.

tru

a mis deneanant under this clause-

the bias of legal sinds is strongly against

all trading except

of solvency as

от

such assurance

as not one trader in ten

Cares to make. The views of gadge

اله

jonny as to what is "rash and

hazardous