CO129-257 - Public Offices & Others - 1892 — Page 111

110

Affence between

Memorandum setting out the leading points of di

the Hong Kong Bankoupley Ordinance, and the English Law. With some observations thereon by the Inspector General in Bankruptezy.

Imperial Acts

evence

ut. 7.3.

Terms

Hong Kong Ordinance

Referend

Terms

Sect. und Removing property

with intent to defeat

delay buditors is

an Act of Banksupty

Observations

Seet 7.3 Court has power to There is no such power

dismiss breditors under the English Act, petition if satisfied but itisiamy opinion

that there are no

substantial assets

a very proper provision.

But it is difficult to see

for division amongst why it should not in

!

the Creditors.

preference apply to a debtor's petition.

But: 10-1

et: 10-1 bout may after Set 10. 8.0. does not stay. The provision in the

proceedings against English Act by automatically

presentation of petition stay any

proceedings.

Blect. 9.1 On making of 8.0.

proceedings by

buditors cannot be taken except by have of boust.

debtor generally staying procedings, unles but bourt shall the bourt otherwise

direct whether

orders avoids the expense

proceedings by breditors of special applications

may

be taken or to

to stay, which an often

stayed. From sub- considerable.

section 3 it would

appear

that

imprisonment for debt the bolony.

is not abolished in