AD. 1891.)
BANKRUPTCY,
[No. 7:
31.
(4) An order of discharge shall not release any person who, at the date of the receiving order, was a partner or co-trustee with the bankrupt or was jointly bound or had made any joint contract with him or any person who was surety or in the nature of a surety for him.
29(1) Where, in the opinion of the Court, a debtor ought not to have been adjudged bankrupt or where it is proved, to the satisfaction of the Court, that the debts of the bankrupt have been paid in full or fully to the satisfaction of the Court, the Court may, on the application of any person interested, by order annul the adjudication.
(2) Notice of the order annulling an adjudication shall be forthwith gazetted.
(3) Where an adjudication is annulled, all sales and dispositions of property and payments duly made and acts theretofore done by the Official Receiver, Trustee, manager, or other person acting under their authority or by the Court shall be valid, but the property of the debtor who was adjudged bankrupt shall vest in such person as the Court may appoint, or, in default of any such appointment, revert to the debtor for all his estate or interest therein, on such terms and subject to such conditions, if any, as the Court may, by order, declare.
PART II.
ADMINISTRATION OF PROPERTY,
Proof of Debts.
Annulling of adjudication judica cases.
46 & 47 Vict: c. 52 s. 35.
80 (1) A debt may be proved, immediately after the making of a Mode of proving debt. receiving order, by delivering or sending through the post to the Official Receiver or to the Trustee an affidavit verifying the debt made by the creditor or by some person on his behalf having knowledge of the necessary facts.
(2) The affidavit shall state whether the creditor is or is not a secured creditor.
(3) If a secured creditor realizes his security, he may prove for the balance due to him, after deducting the net amount realized.
(4) If a secured creditor surrenders his security for the benefit of the creditors, he may prove for his whole debt.
(5) If a secured creditor neither realizes nor surrenders his security, he may in his proof set a value on it and prove for the balance, but when it is so valued the Trustee may, at any time before it is realized, redeem it for the benefit of the estate on payment of the amount of the valuation, or the Court, on the application of the Trustee, may order the realization of the security by sale by public auction or otherwise, provided that the creditor may at any time, by notice in writing,
First Schedule: Form No. 15.
AD. 1891.)
BANKRUPTCY,
[No. 7:
31.
(4) An order of discharge shall not release any person who, at the date of the receiving order, was a partner or co-trustee with the bankrupt or was jointly bound or had made any joint contract with him or any person who was surety or in the nature of a surety for him.
29(1) Where, in the opinion of the Court, a debtor ought not to have been adjudged bankrupt or where it is proved, to the satisfaction of the Court, that the debts of the bankrupt have been paid in full or fully to the satisfaction of the Court, the Court may, on the applica- tion of any person interested, by order annul the adjudication.
(2) Notice of the order annulling an adjudication shall be forthwith gazetted.
(3) Where an adjudication is annulled, all sales and dispositions of property and payments duly made and acts theretofore done by the Official Receiver, Trustee, manager, or other person acting under their authority or by the Court shall be valid, but the property of the debtor who was adjudged bankrupt shall vest in such person as the Court may appoint, or, in default of any such appointment, revert to the debtor for all his estate or interest therein, on such terms and subject to such conditions, if any, as the Court may, by order, declare.
PART II.
ADMINISTRATION OF PROPERTY,
Proof of Debts.
Annulling of adjudication
judica cases.
46 & 47 Piet:
c. 52 s. 35.
80 (1) A debt may be proved, immediately after the making of a Mode of
ving order, by delivering or sending through the post to the Official proving debt. Receiver or to the Trustee an affidavit verifying the debt made by the editor or by some person on his behalf having knowledge of the necessary facts.
(2) The affidavit shall state whether the creditor is or is not a secured Clitor
If a secured creditor realizes his security, he may prove for the lance due to him, after deducting the net amount realized.
(4) If a secured creditor surrenders his security for the benefit of the editors, he may prove for his whole debt.
(5) If a secured creditor neither realizes nor surrenders his security, may in his proof set a value on it and prove for the balance, but hem it is so valued the Trustee may, at any time before it is realized, leom it for the benefit of the estate on payment of the amount of the untion, or the Court, on the application of the Trustee, may order the ration of the security by sale by public auction or otherwise
ded that the creditor may at any time, by notice in writing,
First
Schedule:
Form No. 15.
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