602
Creditors to choose assignee,
Petitioning creditor to proceed at his own cost until choice of Creditors' Assignee.
Estate to vest in Creditors' Assignee.
Official Assignee to render account.
Creditors' Assignee may call for information.
No person to withhold possession of books.
ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
receive the proofs of the debts of the creditors: the Official Assignee shall attend, and give to the meeting the fullest information in his power of the estate and effects of the bankrupt and of the debts due from his estate; and a majority in value of the creditors present may determine whether any allowance for support shall be made to the bankrupt up to the time of passing his last examination, and may fix the amount of such allowance if any be allowed.
As to choice of Creditors' Assignees, and their Power.
68. At the first meeting of creditors, or at any adjournment thereof, it shall be competent to the majority in value of the creditors who have proved debts to choose an assignee or assignees of the bankrupt's estate and effects to be called the Creditors' Assignee: Provided that the Court shall by certificate appoint such assignee so chosen and shall have power to reject any person so chosen who shall appear to such Court unfit to be such assignee, and upon such rejection, a new choice of Creditors' Assignee and a new appointment shall be made.
69. The petitioning creditor shall at his own cost file and prosecute his petition until the choice of assignees by the creditors: and the Court shall at or after the sitting for such choice make order for the payment thereof out of the estate of the bankrupt in course of priority to be settled by any General Order to be made in pursuance of this Ordinance.
70. Upon the appointment of the Creditors' Assignee all the estate both real and personal of the bankrupt shall be divested out of the Official Assignee and vested in the Creditors' Assignee.
71. The Official Assignee shall forthwith render to the Creditors' Assignee a full and particular account or balance sheet of the bankrupt's estate, and of all receipts, payments and other transactions of such Official Assignee and also a list of all the creditors of the bankrupt who shall have proved their debts against the estate.
72. The Creditors' Assignee shall audit such account and may call for such information from the Official Assignee as he possesses concerning the estate.
73. No person shall be entitled, as against the Official or Creditors' Assignee, to withhold possession of books of account of the bankrupt, or to claim any lien thereon.
602
Creditors to choose assignee,
Petitioning ereditor to proceed at his own cost
until choice
of Creditors' Assignec.
Estate to vest in Creditors' Assignee.
Official Assignee to
render account.
Creditors'
Assignee may
call for information.
No person to withhold possession of books.
ORDINANCE No. 5 or 1864.
Bankruptcy and Insolvency.
receive the proofs of the debts of the creditors: the Official Assignee shall attend, and give to the meeting the fullest information in his power of the estate and effects of the bankrupt and of the debts due from his estate; and a majority in value of the creditors present may determine whether any allowance for support shall be made to the bankrupt up to the time of passing his last examination, and may fix the amount of such allowance if any be allowed.
As to choice of Creditors' Assignees, and their Power.
68. At the first meeting of creditors, or at any adjournment thereof, it shall be competent to the majority in value of the creditors who have proved debts to choose an assignee or assignees of the bankrupt's estate and effects to be called the Creditors' Assignee: Provided that the Court shall by certificate appoint such assignee so chosen and shall have power to reject any person' so chosen who shall appear to such Court unfit to be such assignee, and upon such rejection, a new choice of Creditors' Assignee and a new appointment shall be made.
69. The petitioning creditor shall at his own cost file and prosecute his petition until the choice of assignees by the creditors: and the Court shall at or after the sitting for such choice make order for the payment thereof out of the estate of the bankrupt in course of priority to be settled by any General Order to be made in pursuance of this Ordinance.
70. Upon the appointment of the Creditors' Assignee all the estate both real and personal of the bankrupt shall be divested out of the Official Assignee and vested in the Creditors' Assignee.
71. The Official Assignee shall forthwith render to the Creditors' Assignee a full and particular account or balance sheet of the bankrupt's estate, and of all receipts, payments and other transactions of such Official Assignee and also a list of all the creditors of the bankrupt who shall have proved their debts against the estate.
72. The Creditors' Assignee shall audit such account and may call for such information from the Official Assignee as he possesses concerning the estate.
73. No person shall be entitled, as against the Official or Creditors' Assignee, to withhold possession of books of account of the bankrupt, or to claim any lien thereon.
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