604
Creditors' Assignee to render accounts to Official Assignee.
Assignee may appoint bankrupt to manage estate.
Power for assignees to sell bankrupt's book debts.
Disposal of bankrupt's books, after his affairs are wound up.
On removal of Creditors' Assignee, Official
ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
necessarily retained for current expenses, 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.
79. The Creditors' Assignee shall from time to time and so often as any 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 payments 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.
80. The Assignees may with the approbation of the Court appoint the bankrupt 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 administering 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.
81. At any time after the expiration of twelve months from adjudication, or at any earlier period with the approbation of the Court the Assignee 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.
82. When the affairs of the bankrupt are fully wound up, the Court may, 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.
83. If the Creditors' Assignee shall wilfully fail to observe any of the 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 Assignee may be appointed.
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604
Creditors' Assignee to render accounts to Official Assignee.
Assignee may appoint bankrupt to manage estate.
Power for assignees to sell bank- rupt's book debts.
Disposal of bankrupt's books, after
his affairs are wound up.
On removal
of Creditors' Assignee, Official
ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
necessarily retained for current expenses, 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.
79. The Creditors' Assignee shall from time to time and so often as any 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 payments 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.
80. The Assignees may with the approbation of the Court appoint the bankrupt himself to superintendent 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 administering 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.
81. At any time after the expiration of twelve months from adjudication, or at any earlier period with the approbation of the Court the Assignee 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 bank- ruptcy and other matters, as the assignee himself.
82. When the affairs of the bankrupt are fully wound up, the Court may, 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.
83. If the Creditors' Assignee shall wilfully fail to observe any of the directions herein contained or shall be guilty of any neglect in the Assignee may 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
be appointed.
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