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THE HONGKONG GOVERNMENT GAZETTE, 30TH APRIL, 1864.
As to valuation of
LXXVII. No valuation of a Bankrupt's property shall be made unless the Court Bankrupt's property. shall so direct: and any valuation required by the creditors shall be made in such
manner and upon such terms as general orders shall from time to time direct.
Duties of Creditors' Assignee.
Creditors' Assignee
Official Assignee.
LXXVIII. The Creditors' Assignee shall manage, and except as herein provided, realize and recover the estate belonging to the Bankrupt, and shall convert the same into money, and shall dispose of all monies not necessarily retained for current expen- ses, and all bills, notes, and negotiable instruments belonging to the estate, at such time and in such manner as a General Order shall on that behalf direct.
LXXIX. The Creditors' Assignee shall from time to time and so often as any to render accounts to General Order shall direct, render to the Official Assignee a debtor and creditor account of all monies received and paid by him on account of the Bankrupt or his estate verified on oath as a full, true and faithful account of his receipts and pay- ments as such Creditors' Assignee, and the Court may examine any account which may be made by or may come into the hands of the Official Assignee.
Assignees may ap- point Bankrupt to manage estate.
Power for Assignees to sell Bankrupt's book debts.
Disposal of Bank-
affairs are wound up.
LXXX. The Assignees may with the approbation of the Court appoint the Bank- 'rupt himself to superintend the management of the estate, or to carry on trade for behoof of the creditors, and in all or any other respects they may think fit to aid them in ad- ministering the Bankrupt's estate and effects in such manner and on such terms as they may think best for the benefit of the persons interested in the estate.
LXXXI. At any time after the expiration of twelve months from adjudication, or at any
earlier period with the approbation of the Court the Assignees may sell by Auction or Tender, or with the sanction of the Court by private contract, all or any of the book debts due, or growing due to the Bankrupt, and with the sanction of the Court the books relating thereto, and the goodwill of his trade or business, and assign the same to the purchaser: and such purchaser shall by virtue of the assignment have power to sue in his own name for the debts assigned to him as effectually, and with the same privileges concerning proof of the requisites of Bankruptcy and other matters, as the Assignee himself.
LXXXII. When the affairs of the Bankrupt are fully wound up, the Court may, rupts books, after his subject to the directions of any General Order, make from time to time such orders as in each case seems fit respecting the disposal or custody of any books, papers or documents relating to property or affairs in the possession or under the control of the Official Assignee or any other person.
On removal of Cre-
cial Assignee may be appointed.
LXXXIII. If the Creditors' Assignee shall wilfully fail to observe any of the ditors' Assignee, Offi- directions herein contained or shall be guilty of any neglect in the performance of his duty, or it shall be made to appear to the Court on the application of any two or more creditors that it would be for the benefit of the estate that such Creditors' Assignee should not continue to have the management and administration of the Bankrupt's estate, the Court may either appoint the Official Assignee to act jointly with such Creditors' Assignee, or remove such Creditors' Assignee, and direct a choice of another Creditors' Assignee or appoint the Official Assignee alone to wind up and administer the estate under the Bankruptcy, and, if a change of Assignees shall thereupon take place, the estate of the Bankrupt shall, by order of the Court, be divested out of the Assignee removed by the Court, and vested in the Assignee chosen or appointed under this Section.
Assignees to have
LXXXIV. All powers vested in any Bankrupt which he might legally execute all powers Bankrupt for his own benefit, may be executed by the Assignees for the benefit of the creditors,
in such manner as the Bankrupt might have executed the same.
might have had.
pointment of Assignees
any Bankrupt's property
registered.
Certificate of ap- LXXXV. Where according to law any conveyance or assignment of any real or to be registered where personal property of a Bankrupt would be required to be registered, enrolled, or re- conveyance of corded in any Registry Office in Hongkong, then and in every such case the certificate would require to be of appointment of Assignees of the estate and effects of the Bankrupt shall be registered in the Registry Office, Court or place wherein such conveyance or assignment would require to be registered, enrolled or recorded, and such registry shall have the like effect to all intents and purposes, as the registry, enrolment or recording of such con- veyance or assignment would have had: and the title of any purchaser of any such property for valuable consideration without notice of the Bankruptcy, who shall have duly registered, enrolled or recorded his purchase deed previous to the registry hereby directed, shall not be invalidated by reason of such appointment of Assignees, or of the vesting of such property in them consequent thereupon, unless the certificate of such
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