1937_BANKRUPTCY_ORDINANCE__1931 — Page 16

HK Historical Laws 香港歷史法例 All AI Reviewed

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1858

4 & 5 Geo. 5. c. 59, s. 18. Rules.

Forms Nos. 27, 78.

Appoint-

ment of trustee.

c. 59, s. 19.

No. 10 of 1931.

BANKRUPTCY.

this Ordinance within fourteen days after the conclusion of the examination of the debtor or such further time as the court may allow, the court shall adjudge the debtor bankrupt; and thereupon the property of the bankrupt shall become divisible among his creditors and shall vest in a trustee.

(2) Notice of every order adjudging a debtor bankrupt, stating the name, address and description of the bankrupt, the date of the adjudication and the name of the trustee, shall be gazetted and shall be advertised in at least two local newspapers, one of which shall be Chinese, or as may be prescribed, and the date of the order shall for the purposes of this Ordinance be the date of the adjudication.

(3) It shall be sufficient that an adjudication order against a firm be made in the firm name without mentioning the names of the partners, and such adjudication order shall affect the joint and separate property of all the partners.

23.-(1) Where a debtor is adjudged bankrupt or the creditors have resolved that he be adjudged bankrupt, the 4 & 5 Geo. 5, creditors may by ordinary resolution appoint the Official Receiver or some other fit person, whether a creditor or not, to fill the office of trustee of the property of the bankrupt or they may resolve to leave his appointment to the committee of inspection hereinafter mentioned. A person shall be deemed not fit to act as trustee of the property of a bankrupt where he has been previously removed from the office of trustee of a bankrupt's property for misconduct or neglect of duty.

(2) The person appointed shall, unless he is the Official Receiver, give such security as the court may direct or as may be prescribed, and the court, if satisfied with the security, shall certify under the hand of the Registrar that his appointment has been duly made, unless the appointment is disapproved by the court on the ground that it has not been made in good faith by a majority in value of the creditors voting, or that the person appointed is not fit to act as trustee, or that his connexion with or relation to the bankrupt or his estate or any particular creditor makes it difficult for him to act with impartiality in the interests of the creditors generally.

(3) The appointment of a trustee shall take effect as from the date of the certificate.

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1858 4 & 5 Geo. 5. c. 59, s. 18. Rules. Forms Nos. 27, 78. Appoint- ment of trustee. c. 59, s. 19. No. 10 of 1931. BANKRUPTCY. this Ordinance within fourteen days after the conclusion of the examination of the debtor or such further time as the court may allow, the court shall adjudge the debtor bankrupt; and thereupon the property of the bankrupt shall become divisible among his creditors and shall vest in a trustee. (2) Notice of every order adjudging a debtor bankrupt, stating the name, address and description of the bankrupt, the date of the adjudication and the name of the trustee, shall be gazetted and shall be advertised in at least two local newspapers, one of which shall be Chinese, or as may be prescribed, and the date of the order shall for the purposes of this Ordinance be the date of the adjudication. (3) It shall be sufficient that an adjudication order against a firm be made in the firm name without mentioning the names of the partners, and such adjudication order shall affect the joint and separate property of all the partners. 23.-(1) Where a debtor is adjudged bankrupt or the creditors have resolved that he be adjudged bankrupt, the 4 & 5 Geo. 5, creditors may by ordinary resolution appoint the Official Receiver or some other fit person, whether a creditor or not, to fill the office of trustee of the property of the bankrupt or they may resolve to leave his appointment to the committee of inspection hereinafter mentioned. A person shall be deemed not fit to act as trustee of the property of a bankrupt where he has been previously removed from the office of trustee of a bankrupt's property for misconduct or neglect of duty. (2) The person appointed shall, unless he is the Official Receiver, give such security as the court may direct or as may be prescribed, and the court, if satisfied with the security, shall certify under the hand of the Registrar that his appointment has been duly made, unless the appointment is disapproved by the court on the ground that it has not been made in good faith by a majority in value of the creditors voting, or that the person appointed is not fit to act as trustee, or that his connexion with or relation to the bankrupt or his estate or any particular creditor makes it difficult for him to act with impartiality in the interests of the creditors generally. (3) The appointment of a trustee shall take effect as from the date of the certificate.

Baseline (Original)

1858 4 & 5 Geo. 5. c. 59, s. 18. Rules. Forms Nos. 27, 78. • Appoint- ment of trustee. c. 59, s. 19. No. 10 of 1931. BANKRUPTCY. this Ordinance within fourteen days after the conclusion of the examination of the debtor or such further time as the court may allow, the court shall adjudge the debtor bankrupt; and thereupon the property of the bankrupt shall become divisible among his creditors and shall vest in a trustee. (2) Notice of every order adjudging a debtor bankrupt, stating the name, address and description of the bankrupt, the date of the adjudication and the name of the trustee, shall be gazetted and shall be advertised in at least two local newspapers, one of which shall be Chinese, or as may be prescribed, and the date of the order shall for the purposes of this Ordinance be the date of the adjudication. (3) It shall be sufficient that an adjudication order against a firm be made in the firm name without mentioning the names of the partners, and such adjudication order shall affect the joint and separate property of all the partners. 23.-(1) Where a debtor is adjudged bankrupt or the creditors have resolved that he be adjudged bankrupt, the 4 & 5 Geo. 5, creditors may by ordinary resolution appoint the Official Receiver or some other fit person, whether a creditor or not, to fill the office of trustee of the property of the bankrupt or they may resolve to leave his appointment to the committee of inspection hereinafter mentioned. A person shall be deemed not fit to act as trustee of the property of a bankrupt where he has been previously removed from the office of trustee of a bankrupt's property for misconduct or neglect of duty. (2) The person appointed shall, unless he is the Official Receiver, give such security as the court may direct or as may be prescribed, and the court, if satisfied with the security, shall certify under the hand of the Registrar that his appointment has been duly made, unless the appointment is disapproved by the court on the ground that it has not been made in good faith by a majority in value of the creditors voting, or that the person appointed is not fit to act as trustee, or that his connexion with or relation to the bankrupt or his estate or any particular creditor makes it difficult for him to act with impartiality in the interests of the creditors generally. (3) The appointment of a trustee shall take effect as from the date of the certificate.

2026-05-03 13:14:18 · Baseline

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