BANKRUPTCY.
No. 7 of 1891.
619
accept com.
22.-(1) Where a debtor is adjudged bankrupt the creditors may, if they think fit, at any time after the adjudication, by special resolution, resolve to entertain a proposal for a composition or scheme of arrangement of the bankrupt's affairs; and thereupon the same proceedings shall be taken and the same consequences shall ensue as in the case of a composition or scheme accepted before adjudication.
(2) When a composition or scheme is approved by the Court after adjudication, or if the Court is satisfied, by fresh evidence or otherwise, that the debtor ought not to have been adjudged bankrupt, or when the debts of the bankrupt are all paid in full, with interest, the Court may annul the adjudication, but such annulment shall not invalidate or affect acts theretofore done by the Official Receiver, trustee, or manager, or any person acting under their authority or under the authority of the Court.
etc.
46 & 47 Vict. c. 52 s. 23.]
Control over Person and Property of Debtor.
23.—(1) Every debtor against whom a receiving order is made shall, unless prevented by sickness or other sufficient cause, attend the first meeting of his creditors and shall submit to such examination and give such information as the meeting may require.
(2) He shall give such inventory of his property, such list of his creditors and debtors and of the debts due to and from them respectively, submit to such examination in respect of his property or his creditors, attend such other meetings of his creditors, wait at such times on the Official Receiver, special manager, or trustee, execute such powers of attorney, conveyances, deeds, and instruments, and generally do all such acts and things in relation to his property and the distribution of the proceeds among his creditors as may be reasonably required by the Official Receiver, special manager, trustee, or any creditor or person interested.
(3) He shall, if adjudged bankrupt, aid to the utmost of his power in the realization of his property and the distribution of the proceeds among his creditors.
(4) If a debtor wilfully fails to perform the duties imposed on him by this section or to deliver up possession of any part of his property which is divisible among his creditors under this Ordinance, and which is for the time being in his possession or under his control, to the Official Receiver, or to the trustee, or to any person authorised to receive it, he shall be guilty of an offence.
discovery of property. [ib. s. 24.]
en,
by
no
or
lu-
he
nd
bg
1g
he
id
BANKRUPTCY.
No. 7 of 1891.
619
accept com.
22.-(1) Where a debtor is adjudged bankrupt the creditors may, Power to if they think fit, at any time after the adjudication, by special re- position or solution, resolve to entertain a proposal for a composition or scheme scheme after adjudication, of arrangement of the bankrupt's affairs; and thereupon the same proceedings shall be taken and the same consequences shall ensue as in the case of a composition or scheme accepted before adjudica- tion.
(2) When a composition or scheme is approved by the Court after adjudication, or if the Court is satisfied, by fresh evidence or other- wise, that the debtor ought not to have been adjudged bankrupt, or when the debts of the bankrupt are all paid in full, with interest, the Court may annul the adjudication, but such annulment shall not invalidate or affect acts theretofore done by the Official Receiver, trustee, or manager, or any person acting under their authority or under the authority of the Court.
etc.
46 & 47 Vict. c. 52 s. 23.]
Control over Person and Property of Debtor. 23.—(1) Every debtor against whom a receiving order is made Duties of shall, unless prevented by sickness or other sufficient cause, attend debtor as to the first meeting of his creditors and shall submit to such examina- and realiza- tion and give such information as the meeting may require.
(2) He shall give such inventory of his property, such list of his creditors and debtors and of the debts due to and from them respec- tively, submit to such examination in respect of his property or his creditors, attend such other meetings of his creditors, wait at such times on the Official Receiver, special manager, or trustee, execute such powers of attorney, conveyances, deeds, and instruments, and generally do all such acts and things in relation to his property and the distribution of the proceeds among his creditors as may be reasonably required by the Official Receiver, special manager, trustee, or any creditor or person interested.
(3) He shall, if adjudged bankrupt, aid to the utmost of his power in the realization of his property and the distribution of the pro- ceeds among his creditors.
(4) If a debtor wilfully fails to perform the duties imposed on him by this section or to deliver up possession of any part of his property which is divisible among his creditors under this Ordinance, and which is for the time being in his possession or under his control, to the Official Receiver, or to the trustee, or to any person
discovery
pro-
tion of perty. [ib. s. 24.]
No comments yet.
Private notes are available after approval.