the-ordinances-of-the-legislative-counci-1890 — Page 218

182 ORDINANCE No. 3 OF 1846 .


Insolvent Debtors.


Assignees may 13. And be it enacted and ordained, that all powers vested in any such prisoner
execute powers
which the in whose estate shall, by an order under this Ordinance, have been vested in the pro
solvent might
have executed
for his own visional assignee, which such prisoner might legally execute for his own benefit, shall
benefit.
be and are hereby vested in the assignee or assignees of the real and personal estate
of such prisoner by virtue of this Ordinance, to be by such assignee or assignees
executed for the benefit of all and every the creditors of such prisoner under this
Ordinance, in such manner as such prisoner might have executed the same.
Where lease ac 14. And be it enacted and ordained, that in all cases in which any such prisoner
cepted by as
signees, the shall be entitled to any lease or agreement for a lease, and his assignee or assignees
insolvent not
liable for the
rent. shall accept the same, and the benefit thereof, as part of such prisoner's estate and
effects , the said prisoner shall not be or be deemed to be liable to pay any subsequent
rent to which his discharge, adjudicated according to this Ordinance, may not apply,
nor be in any manner sued after such acceptance in respect or by reason of any
subsequent non-observance or non-performance of the conditions, covenants , or
Assignees not agreements therein contained : Provided that in all such cases as aforesaid it shall be
determining
whether to ac lawful for the lessor, or person agreeing to make such lease, his heirs, executors,
cept the lease,
the lessor may administrators , or assigns , if the said assignee or assignees shall decline, upon his or
apply to the
Court.
their being required so to do, to determine whether he or they will or will not accept
such lease or agreement for a lease, to apply to the said Court, praying that he or
they may either so accept the same, or deliver up such lease or agreement for a lease,
and the possession of the premises demised or intended to be demised ; and the said
Court shall thereupon make such order as in all the circumstances of the case shall
seem meet and just, and such order shall be binding on all parties.

Assignees may 15. And be it enacted and ordained , that it shall be lawful for the assignee or
sue in their
own names ; assignees of any such prisoner, and such assignee or assignees is and are hereby
empowered, to sue, from time to time as there may be occasion, in his or their own
name or names, for the recovery, obtaining, and enforcing of any estate, effects , or
rights of such prisoner, but in trust for the benefit of the creditors of such prisoner,
according to the provisions of this Act, and to give such discharge and discharges to
any person or persons who shall be respectively indebted to such prisoner as may be
may make com requisite ; and to make compositions with any debtors or accountants to such prisoner,
position for
debts. where the same shall appear necessary, and to take such reasonable part of any such
debts as can, upon such composition, be gotten in full discharge of such debts and
accounts ; and to submit to arbitration any difference or dispute between such assignee
or assignees and any person or persons for or on account or by reason of any matter,
Proviso for con cause, or thing relating to the estate and effects of such prisoner : Provided never
sent of creditors
to compositions theless , that no such composition , or submission to arbitration, shall be made, nor
and arbritra
tions. any suit in equity be commenced, by any such assignee or assignees, without the
consent in writing of the major part in value of the creditors of such prisoner then
residing in the said Colony, who shall meet together pursuant to a notice of such
meeting, to be published at least fourteen days before such meeting in the two afore
said newspapers, nor without the approbation of the said Court.