ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
circumstances, as the Court shall see fit; and if it shall appear to the Court that the debts of such person can be discharged by means of money raised by way of mortgage on any property of such person, instead of raising the same by sale, the Court may so order, and may give all necessary directions for such purpose, and generally direct all things which may be proper for the discharge of the debts of such person, in such manner as may be most consistent with the interests of such person in such any surplus of his effects after payment of such debts; and in every case, the discharge of such bankrupt shall not be held to discharge him or his estate from any debt secured by him by way of mortgage or otherwise under this section.
102. If any bankrupt shall as trustee be seized, possessed of or entitled to either alone or jointly, any real or personal estate, or any interest secured upon or arising out of the same, or shall have standing in his name as trustee, either alone or jointly, any Government stock, funds, or annuities, or any of the stock of any public company, the Court on petition of the person entitled in possession to the receipt of the rents, issues, and profits, dividends, interest, or produce thereof, on due notice given to all other persons, (if any) interested therein, may order the assignees, and all persons whose act and consent thereto is necessary, to convey assign or transfer the said estate, interest, stock, funds, or annuities to such person as the Court shall think fit, upon the same trusts as the said estate, interest, stock, funds, or annuities were subject to before the bankruptcy, or such of them as shall be then subsisting and capable of taking effect, and also to receive and pay over the rents, issues and profits, dividends, interest or produce thereof as the Court shall direct.
103. No title to any real or personal estate sold under any bankruptcy shall be impeached by the bankrupt, or any person claiming under him, in respect of any defect in the petition for adjudication, or in any of the proceedings under, the same, unless the bankrupt shall within the time allowed by this Ordinance have commenced proceedings to dispute or dismiss the petition or adjudication and duly prosecuted the same.
104. After any adjudication shall have been advertised in the Hongkong Government Gazette, the Court may order any Treasurer or other officer or any banker, attorney, or solicitor, or other agent of the bankrupt to deliver up or transfer to the assignees all estate, effects, and property of the bankrupt in his hands or under his control.
Where bank-rupt is a trustee the Court may order conveyance or assignment to another trustee.
Titles to property sold not to be impeached unless proceedings taken to annul and duly prosecuted.
The Court after adjudication may order any Treasurer,
611
ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
circumstances, as the Court shall see fit; and if it shall appear to the Court that the debts of such person can be discharged by means of money raised by way of mortgage on any property of such person, instead of raising the same by sale, the Court may so order, and may give all ne- cessary directions for such purpose, and generally direct all things which may be proper for the discharge of the debts of such person, in such manner as may be most consistent with the interests of such person in such any surplus of his effects after payment of such debts; and in every case, the discharge of such bankrupt shall not be held to discharge him or his estate from any debt secured by him by way of mortgage or other- wise under this section.
102. If any bankrupt shall as trustee be seized, possessed of or entitled to either alone or jointly, any real or personal estate, or any interest secured upon or arising out of the same, or shall have standing in his name as trustee, either alone or jointly, any Government stock, funds, or annuities, or any of the stock of any public company, the Court on petition of the person entitled in possession to the receipt of the rents, issues, and profits, dividends, interest, or produce thereof, on due notice given to all other persons, (if any) interested therein, may order the assignees, and all persons whose act and consent thereto is necessary, to convey assign or transfer the said estate, interest, stock,
funds, or annuities to such person as the Court shall think fit, upon,
same trusts as the said estate, interest, stock, funds, or annuities were subject to before the bankruptcy, or such of them as shall be then sub- sisting and capable of taking effect, and also to receive and pay over the rents, issues and profits, dividends, interest or produce thereof as the Court shall direct.
103. No title to any real or personal estate sold under any bank- ruptcy shall be impeached by the bankrupt, or any person claiming under him, in respect of any defect in the petition for adjudication, or in any of the proceedings under, the same, unless the bankrupt shall within the time allowed by this Ordinance have commenced proceedings to dispute or dismiss the petition or adjudication and duly prosecuted
the same.
M
104. After any adjudication shall have been advertised in the Hongkong Government Gazette, the Court may order any Treasurer or other officer or any banker, attorney, or solicitor, or other agent of the
611
Where bank- rupt is a trustec the ̈ Court may
order con- veyance or
assignment to another trustee.
Titles to pro- perty sold
not to be impeached
unless pro- ceedings taken to annuL and duly prosecuted.
The Court after adju- dication may order any Treasurer,
No comments yet.
Private notes are available after approval.