189220-1932-Rules-made-by-the-Chief-Justice-under-section-114-of-the-Bankruptcy-Ordinance-1931 — Page 24

THE HONG KONG GOVERNMENT GAZETTE, NÖVEMBER 18, 1932. 819

138. Where a receiving order in made against a First firm, the joint and separate creditors shall collectively meeting. be convened to the first meeting of creditors.

R291.

139. The joint creditors, and each set of separate Acceptance creditors, may severally accept compositions or of composi schemes of arrangement. So far

tion, &c., as circumstances by joint will allow, a proposal accepted by joint creditors may and separate be approved in the prescribed manner, notwithstand-creditors. ing that the proposals or proposal of some or one of R292. the debtors made to their or his separate creditors may not be accepted.

140. Where proposals for compositions or schemes Voting on are made by a firm, and by the partners therein composition. individually, the proposal made to the joint creditors R293 shall be considered and voted upon by them apart from every set of separate creditors; and the proposal made to each separate set of creditors shall be con- sidered and voted upon by such separate set of creditors apart from all other creditors.

Such pro- posals may vary in character and amount. Where a composition or scheme is approved, the receiving order shall be discharged only so far as it relates to he estate, the creditors of which have accepted the composition or scheme.

141. On the adjudication in bankruptcy of a part- Adjudica- nership the trustee appointed by the joint creditors, tion, trustee. or by the court under section 23 (4) or section 81 (3) of R294. the Ordinance, as the case may be, shall be the trustee of the separate estates. Each set of separate creditors may appoint its own committee of inspection, but if any set of separate creditors do not appoint a separate committee, the committee (if any) appointed by the joint creditors shall be deemed to have been appointed also by such separate creditors.

142. If any two or more of the members of a Separate partnership constitute a separate and independent firms. firm, the creditors of such last-mentioned firm shali R295. be deemed to be a separate set of creditors, and to we on the same footing as the separate creditors of any individual member of the firm. And where any surplus shall arise upon the administration of the assets of such separate or independent firm, the same shall be carried over to the separate estates of the partners in such separate and independent firmi according to their respective rights therein.

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Lunatics.

143.--(1) Where it appears to the court that any Lunatics. debtor or creditor or other person who may be affected R297. by any proceeding under the Ordinance or rules, is a lunatic not so found by inquisition (hereinafter called the lunatic), the court may appoint such person as it may think fit to appear for, represent, or act for, and in the name of the lunatic, either generally, or in and for the purpose of any particular application or proceeding, or the exercise of any particular rights or powers which under the Ordinance and rules the lunatic might have exercised if he had been of sound mind. The appointment may be made by the court either on an application made as hereinafter mentioned, or, if the court thinks fit sc to do, without any previous application.

(2) An application to the court to make an ap- piontment under this rule may be made by any person who has been duly appointed by the court, to manage the affairs or property of, or to represent the lunatic, or by any relative or friend of the lunatic who may appear to the court to be a proper person to make the application, or by the Official Receiver.