ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
rupt, if made liable to the creditors under the conditions of discharge, represent the estate in all respects as the sole assignee thereof, and shall have and exercise all the rights, duties, powers and authorities, conferred by this Ordinance upon Official and Creditors' Assignees.
627
may receive allowance although
160. In all joint petitions for adjudication under which any partner shall have obtained his discharge, if a sufficient dividend shall have been paid upon the joint estate and upon the separate estate of such partner, he shall be entitled to his allowance, although the other partner may not be entitled to any allowance.
entitled.
If produce of estate pay in full and leave surplus, such surplus to be paid to bankrupt after payment of interest on debts.
161. If the produce of the estate of any bankrupt shall be sufficient to pay in full, and interest as hereinafter mentioned, and to leave a surplus, the Court may order such surplus to be paid to such bankrupt, his executors, administrators or assigns; and every such bankrupt shall be entitled to recover the remainder, if any, of the debts due to him; but such surplus shall not be paid until all the creditors who have proved, shall have received interest upon their debts to be calculated and paid at the rate and in the order following; viz.: all creditors whose debts are by law entitled to carry interest in the event of a surplus, shall first receive interest on such debts at the rate of interest reserved or by law payable or provable thereon, to be calculated from the date of the filing of the petition for adjudication; and after such interest shall have been paid: all other creditors who have proved shall receive interest on their debt from the date of such petition at the rate of twelve per centum per annum.
As to trust deeds for the benefit of Creditors.
162. If any person shall execute any conveyance or assignment by deed of all his estate and effects to a trustee or trustees for the benefit of all the creditors of such person, the execution of such deed shall not be deemed an act of bankruptcy unless a petition for adjudication be filed within three months from the execution thereof, provided that the conditions which are herein ordained to be observed with regard to every deed or instrument made or entered into between a debtor and his creditors or any of them as trustee for the rest or a trustee on their behalf, have been observed in any such conveyance or assignment by deed.
163. Every deed or instrument made or entered into between a debtor and his creditors or any of them, as trustees for the rest, or a trustee on their behalf...
After three months conveyance of all debtor's property not an act of bankruptcy, provided certain formalities are complied with.
What deeds to be valid and upon...
ORDINANCE No. 5 or 1864.
Bankruptcy and Insolvency.
rupt, if made liable to the creditors under the conditions of discharge, represent the estate in all respects as the sole assignee thereof, and shall have and exercise all the rights, duties, powers and authorities, conferred by this Ordinance upon Official and Creditors' Assignees.
627
may receive allowance although
160. In all joint petitions for adjudication under which any partner One partner shall have obtained his discharge, if a sufficient dividend shall have been paid upon the joint estate and upon the separate estate of such partner, other not he shall be entitled to his allowance, although the other partner may not be entitled to any
allowance.
entitled.
If produce of estate pay in full and leave surplus, such
paid to bank- rupt after payment of interest on debts.
161. If the produce of the estate of any bankrupt shall be sufficient to pay in full, and interest as hereinafter mentioned, and to leave a surplus, the Court may order such surplus to be paid to such bankrupt, surplus to be his executors, administrators or assigns; and every such bankrupt shall be entitled to recover the remainder if any of the debts due to him; but such surplus shall not be paid until all the creditors who have proved, shall have received interest upon their debts to be calculated and paid at the rate and in the order following; viz.: all creditors whose debts are by law entitled to carry interest in the event of a surplus, shall first receive interest on such debts at the rate of interest reserved or by law payable or provable thereon, to be calculated from the date of the filing of the petition for adjudication; and after such interest shall have been paid: all other creditors who have proved shall receive interest on their debt from the date of such petition at the rate of twelve per centum per
annum.
As to trust deeds for the benefit of Creditors.
162. If any person shall execute any conveyance or assignment by deed of all his estate and effects to a trustee or trustees for the benefit of all the creditors of such person, the execution of such deed shall not be deemed an act of bankruptcy unless a petition for adjudication be filed within three months from the execution thereof, provided that the conditions which are herein ordained to be observed with regard to every deed or instrument made or entered into between a debtor and his creditors or of them as trustee for the rest or a trustee on their behalf, have been observed in any such conveyance or assignment by deed.
any
163. Every deed or instrument made or entered into between a debtor and his creditors or any of them, as trustees for the rest, or a
After three months con- veyance of all debtors property not an act of bankruptcy, provided certain
formalities
are
with.
complied
What deeds
to be valid and upon
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