Bankruptcy.
[CAP. 6
liability from which under the provisions of this Ordinance the debtor would not be released by an order of discharge in bankruptcy, unless the creditor assents to the composition or scheme.
Adjudication of bankruptcy.
of bank-
not accepted
4 & 5 Geo. 5, c. 59, s. 18. Rules.
22. (1) Where a receiving order is made against a debtor, then if the creditors at the first meeting or any adjournment thereof by ordinary resolution resolve that the debtor be adjudged bankrupt, or pass no resolution, or if a composition or scheme is not approved in pursuance of 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 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.
Appointment of trustee.
[4 & 5 Geo. 5, c. 59, s. 19.]
187
Bankruptcy.
[CAP. 6
liability from which under the provisions of this Ordinance the debtor would not be released by an order of discharge in bankruptcy, unless the creditor assents to the composition or scheme.
Adjudication of bankruptcy.
of bank-
not accepted
4 & 5 Geo. 5, c. 59, s. 18. Rules.
22. (1) Where a receiving order is made against a Adjudication debtor, then if the creditors at the first meeting or any ruptcy where adjournment thereof by ordinary resolution resolve that the composition debtor be adjudged bankrupt, or pass no resolution, or if approve the creditors do not meet, or if a composition or scheme is not approved in pursuance of this Ordinance within Forms fourteen days after the conclusion of the examination of 27, 78. 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 men- tioning 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 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 bank- rupt 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.
Appointment lef. 4 & 6 59, s. 19.]
of trustee.
Geo. 5,
187
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