AD. 1891.]
BANKRUPTCY.
No. 7.
aid, does not, within the said period or extended period, disclaim the contract, he shall be deemed to have adopted it.
(5) The Court may, on the application of any person who is, as against the Trustee, entitled to the benefit or subject to the burden of a contract made with the bankrupt, make an order rescinding the contract on such terms as to payment by or to either party of damages for the non-performance of the contract or otherwise as to the Court may seem equitable, and any damages payable under the order to any such person may be proved by him as a debt under the bankruptcy.
(6) The Court may, on application by any person either claiming any interest in any disclaimed property or under any liability not discharged by this Ordinance in respect of any disclaimed property, and on hearing such persons as it may think fit, make an order for the vesting of the property in or delivery thereof to any person entitled thereto or to whom it may seem just that the same should be delivered by way of compensation for such liability as aforesaid or a trustee for him, and on such terms as the Court may think just; and, on such vesting order being made, the property comprised therein shall vest accordingly in the person therein named in that behalf, without any conveyance or assignment for the purpose: Provided always that where the property disclaimed is of a leasehold nature, the Court shall not make a vesting order in favour of any person claiming under the bankrupt except on the terms of making such person subject to the same liabilities and obligations as the bankrupt was subject to under the lease in respect of the property at the date when the bankruptcy petition was filed, and any mortgagee or under-lessee declining to accept a vesting order on such terms shall be excluded from all interest in and security upon the property; and if there is no person claiming under the bankrupt who is willing to accept an order on such terms, the Court shall have power to vest the bankrupt's estate and interest in the property in any person liable, either personally or in a representative character and either alone or jointly with the bankrupt, to perform the lessee's covenants in such lease, freed and discharged from all estates, encumbrances, and interests created therein by the bankrupt.
(7) Any person injured by the operation of a disclaimer under this section shall be deemed to be a creditor of the bankrupt to the extent of injury, and may accordingly prove the same as a debt under the bankruptcy.
49. Subject to the provisions of this Ordinance and to any general or special order of the Court, the Trustee may do all or any of the following:
Powers of Trustee to deal with property. 46&47 Vict. c. 52 §. 56.
(1) sell all or any part of the property of the bankrupt (including the goodwill of the business, if any, and the book debts due or growing
AD. 1891.]
BANKRUPTCY.
No. 7.
aid, does not, within the said period or extended period, disclaim the contract, he shall be deemed to have adopted it.
(5) The Court may, on the application of any person who is, as against the Trustee, entitled to the benefit or subject to the burden of a contract made with the bankrupt, make an order rescinding the contract on such terms as to payment by or to either party of damages for the non- performance of the contract or otherwise as to the Court may seem equitable, and any damages payable under the order to any such person may be proved by him as a debt under the bankruptcy...
(6) The Court may, on application by any person either claiming any interest in any disclaimed property or under any liability not discharged by this Ordinance in respect of any disclaimed property, and on hearing such persons as it may think fit, make an order for the vesting of the property in or delivery thereof to any person entitled thereto or to whom it may seem just that the same should be delivered by way of compensation for such liability as aforesaid or a trustee for him, and on such terms as the Court may think just; and, on such vesting order being made, the property comprised therein shall vest accordingly in the person therein named in that behalf, without any conveyance or assignment for the purpose: Provided always that where the property disclaimed is of a leasehold nature, the Court shall not make a vesting order in favour of any person claiming under the bankrupt except on the terms of making such person subject the same liabilities and obligations as the bankrupt was subject to under the lease in respect of the property at the date when the bank- ptoy petition was filed, and any mortgagee or under-lessee declining accept a vesting order on such terms shall be excluded from all interest in and security upon the property; and if there is no person claiming under the bankrupt who is willing to accept an order on such terms, the Court shall have power to vest the bankrupt's estate and interest in the property in any person liable, either personally or in a representative character and either alone or jointly with the bankrupt, to perform the essee's covenants in such lease, freed and discharged from all estates, ncumbrances, and interests created therein by the bankrupt.
(7) Any person injured by the operation of a disclaimer under this cation shall be deemed to be a creditor of the bankrupt to the extent of injury, and may accordingly prove the same as a debt under the kruptcy
49. Subject to the provisions of this Ordinance and to any general or Powers of pemal order of the Court, the Trustee may do all or any of the following Trustee to
property. 46&47Pict.
()sell all or any part of the property of the bankrupt (including the c. 52 §. 56.
good will of the business, if any, and the book debts due or growing
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