Insolvency Act CAP 53▤
Court may cancel creditor's claim
(1) The Official Receiver, the bankrupt or a creditor may make an application to the Court for an order under subsection (2) on th…
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
Notice by bankrupt or creditor to bankruptcy trustee to allow or reject creditor's claim
(1) The bankrupt or any creditor may give the bankruptcy trustee notice to allow or reject a creditor's claim. (2) It the bankrupt…
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Insolvency Act CAP 53▤
Bankruptcy trustee's power to obtain evidence of debt
(1) The bankruptcy trustee may summon for examination, and examine (on oath or otherwise), any of the following persons— (a) a per…
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Insolvency Act CAP 53▤
Bankruptcy trustee to give creditor notice of grounds of rejection
As soon as practicable after rejecting a creditor's claim, or a part of it, the bankruptcy trustee shall give the creditor a notic…
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Insolvency Act CAP 53▤
Bankruptcy trustee required to examine creditor's claim
(1) The bankruptcy trustee shall examine each creditor's claim and the grounds of the debt, unless of the opinion that no dividend…
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Insolvency Act CAP 53▤
Procedure for proving debt: creditor to submit claim form
(1) A creditor (including a creditor who has a preferential claim) who wishes to claim in the bankruptcy shall submit a creditor's…
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Insolvency Act CAP 53▤
What debts are provable debts
(1) For the purpose of this Division, a provable debt is a debt or liability that the bankrupt owes— (a) at the commencement of th…
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Insolvency Act CAP 53▤
Interpretation: Division 20
(1) For the purposes of this Division, a creditor's claim is a document that a creditor submits to the bankruptcy trustee for the…
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Insolvency Act CAP 53▤
How bankruptcy trustee is to use repayment of bankrupt's contribution to property
(1) The bankruptcy trustee shall apply— (a) the money repaid under section 212 by the recipient of a contribution by the bankrupt…
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Insolvency Act CAP 53▤
Court's powers in relation to bankrupt's contribution to recipient's property
(1) The Court may— (a) ascertain the value of the bankrupt's contribution for the purposes of section 212; and (b) order the recip…
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Insolvency Act CAP 53▤
Court may order recipient of bankrupt's contribution to property of another to pay value to bankruptcy trustee
(1) The bankruptcy trustee may make an application to the Court for an order directing the recipient of a contribution by the bank…
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Insolvency Act CAP 53▤
Bankruptcy trustee may recover difference in value if transaction is found to be under value
(1) Under section 212, the bankruptcy trustee may recover from a party to a transaction with the bankrupt an amount calculated in…
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Insolvency Act CAP 53▤
Limits on what can be recovered
The Court may not make an order under section 209 against a person if the person proves that when the person received the property…
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Insolvency Act CAP 53▤
Court may order retransfer of property or payment of an equivalent value
(1) On the cancellation of an irregular transaction under which property of the bankrupt, or an interest in property of the bankru…
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Insolvency Act CAP 53▤
Procedure for cancelling irregular transactions
(1) The procedure set out in this section applies to the following irregular transactions— (a) an insolvent transaction; (b) an in…
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Insolvency Act CAP 53▤
Cancellation of gifts made by bankrupt made within five and two years before bankruptcy
(1) A gift by a bankrupt to another person can be also cancelled on the bankruptcy trustee's initiative if — (a) the bankrupt made…
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Insolvency Act CAP 53▤
Cancellation of gifts made within two years before bankruptcy
A gift made by a bankrupt to another person can be cancelled on the bankruptcy trustee's initiative if the bankrupt made the gift…
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Insolvency Act CAP 53▤
Charge agreed before specified period not to be cancelled
A charge or a security right given by the bankrupt under an agreement to give the charge or create a security right that was made…
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Insolvency Act CAP 53▤
Appropriation of payments by bankrupt to secured creditor
(1) This section applies if the bankrupt has made a payment or payments to a secured creditor after the bankrupt has given a charg…
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Insolvency Act CAP 53▤
Charge for unpaid purchase price given after sale of property
(1) If, in relation to property purchased by a bankrupt, the bankrupt has given to the seller a charge over the property within th…
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Insolvency Act CAP 53▤
Presumption that bankrupt unable to pay due debts
A bankrupt who gave a charge within the six months immediately preceding the commencement of the bankruptcy is presumed, until the…
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Insolvency Act CAP 53▤
Charge for new consideration or replacement charge not affected
(1) A charge may not be cancelled under section 200 if it secures— (a) money actually advanced or paid; (b) the actual price or va…
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Insolvency Act CAP 53▤
Insolvent charges can be cancelled on bankruptcy trustee's initiative
A charge over any property of a bankrupt can be cancelled on the bankruptcy trustee's initiative if— (a) the charge was created wi…
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Insolvency Act CAP 53▤
When series of transactions are to be regarded as single transaction
(1) This section applies if a series of transactions made for commercial purposes forms an integral part of a continuing business…
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