1850
No. 10 of 1931.
BANKRUPTCY.
Debtor's petition and order thereon.
c. 59, s. 6.
for such time as may be required for trial of the question relating to the debt.
(6) Where proceedings are stayed the court may, if by reason of the delay caused by the stay of proceedings or for any other cause it thinks just, make a receiving order on the petition of some other creditor, and shall thereupon dismiss, on such terms as it thinks just, the petition in which proceedings have been stayed as aforesaid.
(7) A creditor's petition shall not after presentment be withdrawn without the leave of the court.
10.—(1) A debtor's petition shall allege that the debtor is unable to pay his debts, and the presentation thereof shall be deemed an act of bankruptcy without the previous filing by the debtor of any declaration of inability to pay his debts, and the court shall thereupon make a receiving order: Provided that it shall be lawful for the court in its discretion to refuse the order if it is not satisfied that the assets for division among the unsecured creditors after payment of all costs, charges and expenses, and the debts which are preferential under this Ordinance, will be sufficient to pay a dividend of fifteen per cent., or if the court considers for other sufficient cause that no order ought to be made.
Appearance of Official Receiver on petition.
'Sufficient cause in this sub-section shall be deemed to include, inter alia, the non-attendance of the debtor, or in the case of a firm, of at least one of the partners thereof, on the hearing of the petition, the absence of any material book of account, or any fraud or misconduct not amounting to fraud by the debtor in relation to his affairs, or in the case of a firm or person carrying on business under a Chinese firm name, the non-production of the partnership book or of the receipt and money-payment chops used in connexion with the business.
(2) A debtor's petition shall not after presentment be withdrawn without the leave of the court.
11. On the hearing of any creditor's or debtor's petition it shall be lawful for the Official Receiver to appear and to call, examine and cross-examine any witness and, if he so thinks fit, to support or oppose the making of a receiving order.
!
1850
No. 10 of 1931.
BANKRUPTCY.
Debtor's petition
and order
thereon.
c. 59, s. 6.
for such time as may be required for trial of the question relating to the debt.
(6) Where proceedings are stayed the court may, if by reason of the delay caused by the stay of proceedings or for any other cause it thinks just, make a receiving order on the petition of some other creditor, and shall thereupon dismiss, on such terms as it thinks just, the petition in which proceedings have been stayed as aforesaid.
(7) A creditor's petition shall not after presentment be withdrawn without the leave of the court.
10.—(1) A debtor's petition shall allege that the debtor is unable to pay his debts, and the presentation thereof shall be deemed an act of bankruptcy without the previous filing by the 4 & 5 Geo. 5, debtor of any declaration of inability to pay his debts, and the Rules. court shall thereupon make a receiving order: Provided that Form No. 3. it shall be lawful for the court in its discretion to refuse the order if it is not satisfied that the assets for division among the unsecured creditors after payment of all costs, charges and expenses, and the debts which are preferential under this Ordin- ance, will be sufficient to pay a dividend of fifteen per cent., or if the court considers for other sufficient cause that no order ought to be made.
Appearance of Official
Receiver on petition.
'Sufficient cause
in this sub-section shall be deemed to include, inter alia, the non-attendance of the debtor, or in the case of a firm, of at least one of the partners thereof, on the hearing of the petition, the absence of any material book of account, or any fraud or misconduct not amounting to fraud by the debtor in relation to his affairs, or in the case of a firm or person carrying on business under a Chinese firm name, the non-production of the partnership book or of the receipt and money-payment chops used in connexion with the business.
(2) A debtor's petition shall not after presentment be withdrawn without the leave of the court..
11. On the hearing of any creditor's or debtor's petition it shall be lawful for the Official Receiver to appear and to call, examine and cross-examine any witness and, if he so thinks fit, to support or oppose the making of a receiving order.
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