Insolvency Act CAP 53▤
Interpretation: Division 21
In this Division, "preferential claim" means a claim in respect of a debt listed in paragraphs 2, 3 or 4 of the Second Schedule.
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
When guarantor for bankrupt may prove claim
If, in relation to a bankruptcy— (a) a person is, at the commencement of the bankruptcy, a guarantor of, or is otherwise liable fo…
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Insolvency Act CAP 53▤
Company may prove for unpaid calls
(1) If a bankrupt is, at the commencement of the bankruptcy, a shareholder of a company (not being a company that is in liquidatio…
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Insolvency Act CAP 53▤
Judgment creditor may prove for costs
A person who obtained an order for costs against the bankrupt before the commencement of the bankruptcy may prove for the amount o…
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Insolvency Act CAP 53▤
Secured creditor can prove as unsecured creditor if security is void or partly void
If a creditor's security over assets of the bankrupt is wholly or partly void under a provision of this or any other Act, the cred…
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Insolvency Act CAP 53▤
Creditor required to deduct trade discounts
A creditor shall deduct from the creditor's claim any trade discount that the creditor would have given a debtor if the debtor had…
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Insolvency Act CAP 53▤
Meaning of prescribed rate for purposes of sections 238 and 239
For the purposes of sections 238 and 239, the prescribed rate of interest is the rate for the time being prescribed by the insolve…
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Insolvency Act CAP 53▤
Additional post-bankruptcy interest on contract or judgment debt if surplus remains
(1) If there is a surplus after the bankruptcy trustee has paid post-bankruptcy interest as provided by section 238, the bankruptc…
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Insolvency Act CAP 53▤
Post-bankruptcy interest payable at prescribed rate if surplus remains
(1) The bankruptcy trustee shall pay interest on all allowed creditors' claims at the prescribed rate if surplus assets remain aft…
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Insolvency Act CAP 53▤
Creditor may claim pre-bankruptcy interest
A creditor may claim interest up to the date on which the bankruptcy commences— (a) in the case of contract debt interest, at the…
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Insolvency Act CAP 53▤
Bankruptcy trustee's duty when mutual dealings have occurred between the bankrupt and other persons
If there have been mutual credits, mutual debts or other mutual dealings between a bankrupt and another person, the bankruptcy tru…
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Insolvency Act CAP 53▤
Creditor's claim payable six months or more after commencement of bankruptcy
(1) A creditor's claim that would, but for the bankruptcy, be payable six months or more after the commencement of the bankruptcy…
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Insolvency Act CAP 53▤
Application to the Court to determine amount of uncertain creditor's claim
(1) If the bankruptcy trustee— (a) chooses not to estimate the amount of a creditor's claim in accordance with section 233; or (b)…
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Insolvency Act CAP 53▤
Bankruptcy trustee may estimate amount of uncertain creditor's claim
If a creditor's claim is subject to a contingency or is for damages, or if, for some other reason, the amount of the claim is unce…
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Insolvency Act CAP 53▤
Secured creditor who surrenders charge may with approval of the Court withdraw claim or submit a new claim
(1) This section applies to a creditor who has surrendered a charge under option 3 in section 226(2) or is taken to have surrender…
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Insolvency Act CAP 53▤
Bankruptcy trustee's powers when secured creditor values property subject to charge and proves for balance
(1) If a creditor who holds a charge or security right over property of a bankrupt values the property and seeks to prove for the…
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Insolvency Act CAP 53▤
Offence for secured creditor to make false claim
(1) A person who— (a) makes, or authorises the making of, a claim under section 229 (1) knowing it to be false or misleading; or (…
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Insolvency Act CAP 53▤
Valuation of charge held by creditor and claim for balance due
This section applies if a creditor who holds a charge or security right over a bankrupt's property has the property valued and see…
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Insolvency Act CAP 53▤
Realisation of property that is subject to a security
(1) A creditor who realises property that is subject to a charge may prove as an unsecured creditor for any balance due after dedu…
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Insolvency Act CAP 53▤
Power of Court to order disposal of property that is subject to a charge
(1) If property of a bankrupt is subject to a security, the bankruptcy trustee may make an application to the Court for an order u…
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Insolvency Act CAP 53▤
Secured creditor’s options in relation to property that is subject to a charge
(1) If the property of a bankrupt is subject to a charge, the creditor who holds the charge may choose an option specified in subs…
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Insolvency Act CAP 53▤
Court may make order as to costs
On the hearing of an application made under section 221, 222 or 223, the Court may, if it considers it appropriate to do so, make…
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Insolvency Act CAP 53▤
Parties to proceedings relating to creditor's claim
(1) This section applies to an application made under section 221, 222 or 223. (2) If the applicant is not the bankruptcy trustee,…
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Insolvency Act CAP 53▤
Power of court to quash or vary bankruptcy trustee's decision rejecting creditor's claim
(1)A creditor whose claim has been rejected by the bankruptcy trustee may apply to the Court to make an order under subsection (3)…
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