Section 116 of Insolvency Act CAP 53: When execution or attachment completed for purposes of sections 109 and 115

If the bankruptcy trustee's interest in property is acquired by or passes to a bankrupt after bankruptcy has commenced— (a) the bankruptcy trustee's interest in the property ends; and (b) that...

(1) The bankruptcy trustee may disclaim onerous property, subject to section 121. (2) Subsection (1) applies even if the bankruptcy trustee has taken possession of the property, tried to sell it, or...

A disclaimer by the bankruptcy trustee— (a) terminates, on and from the date of the disclaimer, the rights, interests, and liabilities of the bankruptcy trustee and the bankrupt in relation to the...

(1) A person who sustains loss or damage as a result of disclaimer by the bankruptcy trustee may— (a) claim as a creditor in the bankruptcy for the amount of the loss or damage, taking account of the...

The bankruptcy trustee loses the right to disclaim onerous property if— (a) a person whose rights would be affected by the disclaimer has sent the bankruptcy trustee a notice requiring the bankruptcy...

(1) If land disclaimed by the bankruptcy trustee is subject to a rentcharge, the vesting of that land in any other person (including the State), or the person's successors in title, does not make any...

(1) This section applies to an interest in land that— (a) is owned by the bankrupt; (b) is subject to a mortgage or a charge; and (c) is not disclaimed by the bankruptcy trustee. (2) The...

(1) The bankruptcy trustee cannot, after the bankrupt's discharge, claim an interest in land to which section 123(1) applies and for which the bankruptcy trustee has not registered a transmission if...

(1) The bankruptcy trustee may transfer the following property belonging to the bankrupt in the same way as the bankrupt could have transferred it but for the bankruptcy— (a) securities of a...

A bankruptcy trustee may disclaim any liability under shares owned by the bankrupt in any company by disclaiming the shares as onerous property under section 118, but sections 120 and section 121 do...

(1) The bankruptcy trustee may disclaim a liability under shares owned by the bankrupt in a company by disclaiming them as onerous property in accordance with section 118. (2) Neither section 120 nor...

The bankruptcy trustee loses the right to disclaim liability under shares if— (a) the company or a person who has an interest in the shares has sent the bankruptcy trustee a notice requiring that...

(1) After disclaimer, the bankruptcy trustee may, subject to any other written law and to the company's constitution, transfer the relevant shares to any person who has an interest in them. (2) If...

(1) This section applies if the bankruptcy trustee has disclaimed liability under shares and the company is not in liquidation. (2) The company may prove in the bankruptcy for— (a) the amount of...

In this Division— "cash price", in relation to a sale of goods, means— (a) the lowest price at which a person could have bought those goods from the creditor on the basis of payment in full at the...

(1) If a bankrupt acquired goods under a credit purchase transaction before the bankruptcy commenced and the creditor either— (a) took possession of the goods within the twenty-one days immediately...

(1) In the case of goods to which section 131 applies, the bankruptcy trustee may— (a) within the thirty-day period referred to in that section, exercise any right conferred by any relevant written...

(1) A creditor may prove in a bankruptcy for the amount (not exceeding that limited by any relevant written law) that the creditor was entitled to recover from the bankrupt as a debtor if— (a) the...

If— (a) the bankrupt purchased goods under a credit purchase transaction before the time the bankruptcy commenced; and (b) at that time the creditor either— (i) has not taken possession of the...

(1) This section applies to and in respect of a bankrupt who, before discharge, is adjudged bankrupt for a second time. (2) Property that is acquired by, or has passed to, the bankrupt since the...

(1) This section applies if the bankruptcy trustee in respect of a bankrupt's estate receives notice that a creditor has lodged an application for another bankruptcy. (2) The bankruptcy trustee shall...

If two or more persons are adjudged bankrupt jointly, the bankruptcy trustee shall keep distinct accounts in respect of— (a) the joint estate; and (b) the separate estate of each bankrupt.

(1) When two or more persons have been adjudged bankrupt jointly, the bankruptcy trustee shall first apply— (a) the joint estate to the debts due by the bankrupts jointly; and (b) the separate...

(1) A bankrupt shall, to the best of the bankrupt's ability, assist in the realisation of the bankrupt's property and the distribution of the proceeds among the creditors. (2) The duty imposed by...

(1) As soon as practicable after acquisition, the bankrupt shall notify the bankruptcy trustee of any property that— (a) was acquired by, or passed to, the bankrupt before discharge; and (b) is...

(1) On demand by the bankruptcy trustee, the bankrupt shall deliver to the bankruptcy trustee, or to a person authorised by the bankruptcy trustee to receive it, all of the bankrupt's property that—...

(1) If— (a) any property consisting of an interest in a dwelling house that is occupied by the bankrupt or by the bankrupt's spouse or former spouse is comprised in the bankrupt's estate;...

(1) As soon as practicable after being adjudged bankrupt, the bankrupt shall— (a) deliver to the bankruptcy trustee relevant documents that are in the bankrupt's possession or control;...

A bankrupt shall— (a) as soon as practicable after being adjudged bankrupt— (i) give the bankruptcy trustee a complete and accurate list of the bankrupt's property and of the bankrupt's creditors...

(1) Whenever the bankruptcy trustee requires it, the bankrupt shall provide the bankruptcy trustee with details of the bankrupt's income and expenditure since the bankruptcy commenced. (2) A bankrupt...

(1) A bankrupt shall, within seven days after any change occurs in the bankrupt's name, address, employment or income, notify the bankruptcy trustee of the change. (2) A bankrupt who, without...

(1) The bankrupt shall give the bankruptcy trustee (or any person employed by the bankruptcy trustee) the information and details that are necessary to prepare a financial statement that shows the...

The principles of personal data protection set out in the Data Protection Act (Cap. 411C) shall apply with necessary modifications to the processing and handling, by the bankruptcy trustee, of the...

In this Division— "building", in relation to a bankrupt, includes a reference to a part of a building in which the bankrupt holds a proprietorial interest; "place" includes building, premises,...

(1) If required by the bankruptcy trustee to do so, the bankrupt shall pay an amount or periodic amounts during the bankruptcy as a contribution towards payment of the bankrupt's debts. (2) The...

If a bankrupt fails to make a payment required under section 150, the onus is on the bankrupt in any proceedings arising out of the failure to show that the failure was not deliberate.

(1) An undischarged bankrupt shall not, without the consent of the bankruptcy trustee or the Court (either directly or indirectly)— (a) enter into, carry on, or take part in the management or...

(1) The Court may issue a search warrant to the bankruptcy trustee or any other person if it reasonably believes that any relevant property is concealed in a specified place. (2) The warrant may...

(1) If authorised by a warrant issued by the Court, the bankruptcy trustee or (if not the bankruptcy trustee) the Official Receiver, with such assistants as are considered necessary— (a) may seize...

(1) The bankruptcy trustee may require the bankrupt and relatives of the bankrupt to vacate any land or building that is part of the property vested in the bankruptcy trustee under the...

A bankrupt is entitled at any reasonable time to inspect and to take copies of— (a) the bankrupt's accounting records; (b) the bankrupt's answers to questions put to the bankrupt in the course of an...

(1) After the bankruptcy commences, the bankrupt, and any person (other than the bankruptcy trustee) who claims through or under the bankrupt, ceases to be entitled— (a) to recover property that is...

(1) After the bankruptcy has commenced, the bankrupt may not execute a power of appointment, or any other power vested in the bankrupt, if the result would be to defeat or destroy any contingent or...

(1) As soon as practicable after becoming aware or formings reasonable suspicion that a customer is an undischarged bankrupt, a bank shall— (a) notify the bankruptcy trustee of any account that the...

(1) The Official Receiver may, by notice, require a bank to search its account records by comparing the names of its customers with the names (including any aliases) of undischarged bankrupts...

(1) A bankrupt may choose and retain as the bankrupt's own property assets of a description specified in subsection (2) up to a maximum value determined in accordance with subsection (3). (2) The...

A bankrupt may retain necessary tools of trade and necessary household furniture and effects that are worth more than the maximum value fixed in accordance with section 161, if the bankrupts'...

(1) Subject to subsection (2), the retention of an asset by the bankrupt under section 161 or 162 does not affect rights arising under a valid charge, bailment contract or credit purchase transaction...

The fact that the net value of the assets that the bankrupt retains is less than the maximum values specified in section 161 does not give the bankrupt any rights in relation to other assets in the...

If the bankrupt has died, a relative or dependant of the bankrupt, who has been approved for this purpose by the bankruptcy trustee or the Court, may exercise the right to retain assets under section...