Insolvency Act CAP 53▤
Death of contributories not to affect their liability
(1) If a contributory dies either before or after being placed on the list of contributories, the contributory's personal represen…
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
Nature of contributory's liability
The liability of a contributory creates an ordinary contract debt due from the contributory at the time when the contributor's lia…
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Insolvency Act CAP 53▤
Position of unlimited companies that were formerly limited
(1) This section applies to a company in liquidation that has previously been registered as limited but has since become re-regist…
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Insolvency Act CAP 53▤
Position of limited companies that were formerly unlimited
(1) This section applies to a company that is in liquidation if it was previously registered as unlimited but has since become re-…
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Insolvency Act CAP 53▤
Liability of past directors and shareholders
(1) In this section, "relevant payment" means a payment made out of capital in respect of the redemption or purchase by a company…
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Insolvency Act CAP 53▤
Liability as contributories of present and former members
(1) When a company is being liquidated, every present and former member is liable to contribute to its assets to any amount suffic…
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Insolvency Act CAP 53▤
The circumstances in which a company is unable to pay its debts
(1) For the purposes of this Part, a company is unable to pay its debts— (a) if a creditor (by assignment or otherwise) to whom th…
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Insolvency Act CAP 53▤
Interpretation: Part VI
(1) In this Part— "contributories"— (a) means all persons liable to contribute to the assets of a company if it is liquidated; and…
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Insolvency Act CAP 53▤
Distinction between "members" and "creditors" voluntary liquidation
In this Part— (a) a liquidation in the case of which a directors' statutory declaration under section 398 has been made is a "memb…
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Insolvency Act CAP 53▤
Scheme of Part VI
(1) This Part applies to the liquidation of a company registered under the Companies Act (Cap. 486). (2) A liquidation may be eith…
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Insolvency Act CAP 53▤
Certain acts of executor or administrator valid if done in good faith
A payment made, or an act done or omitted to be done, in good faith by an executor or administrator in respect of a deceased's est…
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Insolvency Act CAP 53▤
Trustee may cancel execution against insolvent deceased debtor's estate
The trustee may cancel an execution against the deceased debtor's estate unless it was completed more than three months before the…
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Insolvency Act CAP 53▤
Power of trustee to act in relation to deceased's irregular transactions
(1) A trustee may take a step that a bankruptcy trustee could have taken under Division 19 of Part III (for example, by cancelling…
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Insolvency Act CAP 53▤
Creditor's notice to executor or administrator
If an order that a deceased's estate be administered under this Part is notified to the deceased's executor or administrator, the…
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Insolvency Act CAP 53▤
How any surplus is to be paid
(1) In this section, "surplus" means the surplus of assets that remains with the trustee after the trustee has paid in full— (a) t…
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Insolvency Act CAP 53▤
Distribution of insolvent deceased's estate
(1) The trustee shall distribute the estate in the following order— (a) firstly, payment of all proper costs, charges, debts and e…
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Insolvency Act CAP 53▤
Trustee's functions and powers in respect of insolvent deceased's estate
The trustee has, in relation to the estate, the same functions and powers as a bankruptcy trustee has in relation to the property…
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Insolvency Act CAP 53▤
Application of Division 3
This Division applies if the Court has made an order that the estate of a deceased person be administered under this Part.
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Insolvency Act CAP 53▤
Trustee may make allowance to surviving spouse
(1) The trustee may make an allowance out of the estate to the surviving spouse or to any of the relatives or dependants of the de…
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Insolvency Act CAP 53▤
Entitlement of surviving spouse to household furniture and effects
(1) This section applies if the estate that vests in the trustee includes any of the deceased's necessary household furniture and…
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Insolvency Act CAP 53▤
Trustee to realise, administer and distribute estate
The trustee shall, as soon as practicable after the estate vests in the trustee, realise, administer, and distribute the assets in…
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Insolvency Act CAP 53▤
Estate vests in trustee
(1) The whole of the estate at the date when the application for the order under this Part was lodged vests in the person appointe…
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Insolvency Act CAP 53▤
Certificate lodged by the Public Trustee has effect as application and order
(1) If the Public Trustee is the executor or administrator of, or would be entitled to obtain a grant of administration for, an ap…
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Insolvency Act CAP 53▤
Court may order administration by Official Receiver or the Public Trustee instead of executor or administrator
(1) This section applies if— (a) an application has been made to the Court for an order to administer an estate under this Part; a…
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