the-ordinances-of-the-legislative-counci-1890 — Page 638

602 ORDINANCE No. 5 OF 1864.


Bankruptcy and Insolvency.
I

receive the proofs of the debts of the creditors : the Official Assignee shall
attend , and give to the meeting the fullest information in his power of the
estate and effects of the bankrupt and of the debts due from his estate ;
and a majority in value of the creditors present may determine whether
any allowance for support shall be made to the bankrupt up to the time
of passing his last examination , and may fix the amount of such allowance
if any be allowed .


As to choice of Creditors ' Assignees, and their Power.

Creditors to
choose 68. At the first meeting of creditors , or at any adjournment thereof,
assignee. it shall be competent to the majority in value of the creditors who have
proved debts to choose an assignee or assignees of the bankrupt's estate
and effects to be called the Creditors' Assignee : Provided that the Court
shall by certificate appoint such assignee so chosen and shall have power
to reject any person so chosen who shall appear to such Court unfit to be

such assignee, and upon such rejection , a new choice of Creditors'
Assignee and a new appointment shall be made.

Petitioning 69. The petitioning creditor shall at his own cost file and prosecute
creditor to
proceed at his
his his petition until the choice of assignees by the creditors : and the Court
own cost
until choice shall at or after the sitting for such choice make order for the payment
of Creditors'
Assignee. thereof out of the estate of the bankrupt in course of priority to be settled
by any General Order to be made in pursuance of this Ordinance.

Estate to vest 70. Upon the appointment of the Creditors' Assignee all the estate
in Creditors'
Assignee. both real and personal of the bankrupt shall be divested out of the Official
Assignee and vested in the Creditors ' Assignee.

Official 71. The Official Assignee shall forthwith render to the Creditors'
Assignee to
render Assignee a full and particular account or balance sheet of the bankrupt's
account.
estate, and of all receipts, payments and other transactions of such Official

Assignee and also a list of all the creditors of the bankrupt who shall have
proved their debts against the estate.

Creditors' 72. The Creditors' Assignee shall audit such account and may call
Assignee may for such information from the Official Assignee as he possesses concerning
call for
information .
the estate .

No person to 73. No person shall be entitled, as against the Official or Creditors'
withhold
possession of Assignee, to withhold possession of books of account of the bankrupt, or
books.
to claim any lien thereon.