the-ordinances-of-the-legislative-counci-1890 — Page 642

606 ORDINANCE No. 5 OF 1864.


Bankruptcy and Insolvency.

Conditional
87. If any bankrupt shall have granted , conveyed , assured or
estate grant
ed by bank pledged, any real or personal estate, or deposited any deed , such grant,
rupt may be
redeemed by conveyance, assurance , pledge or deposit being upon condition or power
assignees.
of redemption , at a future day, by payment of money or otherwise , the
assignees may, before the time of the performance of such condition ,
make tender, or payment of money, or other performance, according to
such condition, as fully as the bankrupt might have done : and after such
tender, payment or performance, such real or personal estate may be sold
and disposed of for the benefit of the creditors.
Assignees to 88. The assignees shall be subject to the orders of the Court in
be subject to
the order of their conduct as assignees and the Court may at all times summon the
the Court.
assignees, and require them to produce all books, papers, deeds, writings,
or other documents relating to the bankruptcy in their possession ,
and direct them to pay and deliver over to the Official Assignee , all
monies , books , papers , deeds , writings and other documents which may
have come to their possession as assignees .
If a member 89. If any person adjudged bankrupt shall at the time of the adju
of a firm bc
comes bank dication, be a member of a firm the Court may authorise the assignees
rupt Court
may author upon their application to commence or prosecute any action at Law or
ise action or
suit in name suit in Equity, in the name of such assignees and of the remaining part
of assignees
and of re ner, against any debtor of the partnership, and such judgment, decree, or
maining
partner. order may be obtained therein as if such action or suit had been instituted
with the consent of such partner, and if such partner shall execute any
release of the debt or demand for which such action or suit is instituted ,
such release shall be void : Provided that every such partner shall

have notice given him of such application, and be at liberty to show
cause against it , and if no benefit be claimed by him by virtue of the said
proceedings , shall be indemnified against the payment of any costs in
respect of such action or suit , in such manner as the Court may direct :
and such Court may, upon the application of such partner, direct that he
may receive so much of the proceeds of such action or suit as the Court
shall direct.

Assignees 90. The assignees with the leave of the Court first obtained upon
may institute
or defend application to such Court but not otherwise, may commence, prosecute
actions and
compound for or defend, any action at Law or suit in Equity which the bankrupt might
debts due to
the estate, have commenced and prosecuted or defended , and in such case, the costs
and submit
disputes to to which they may be put in respect of such suit or action shall be
arbitration.
allowed out of the proceeds of the estate and effects of the bankrupt : and