The new law of bankruptcy; containing the Bankruptcy Act (46 and 47 Vict. c.52), introduction, tables, notes and index Book PDF, ePub eBook

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Book Descriptions:
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1883 Excerpt: ... vacancy, and thereupon the same proceedings shall be taken as in the case of a first appointment. (2.) The official receiver shall, on the requisition of any creditor, summon a meeting for the purpose of filling any such vacancy. (3.) If the creditors do not within three weeks after the occurrence of a vacancy appoint a person to fill the vacancy, the official receiver shall report the matter to the Board of Trade, and the Board may appoint a trustee; but in such case the creditors or committee of inspection shall have the same power of appointing a trustee as in the case of a first appointment. (4.) During any vacancy in the office of trustee the official receiver shall act as trustee. Compare sections 83 and 84 of the Act of 1869. Under sub-section (3) the Board cannot appoint the official receiver to be trustee if regard is had to section 21 (5); it requires under that section a special provision of the Act to authorise the appoint, ment of anyone as trustee--instance of whioh appears in sub-section (4) of this clause 87. trustee. Voting Powers Op Trustee. 88. The vote of the trustee, or of his partner, clerk, Limitation solicitor, or solicitor's clerk, either as creditor or as proxy Xe'reof for a creditor, shall not be reckoned in the majority re-trustee. quired for passing any resolution affecting the remuneration or conduct of the trustee. The expression "shall not be reckoned in the majority" is a curious one, but it answers its purpose; for a trustee or his representative may vote, and his vote may be counted, as Ions; as it is not ou the side of the majority. The clause affecting the remuneration of the trustee is clause 72; the "majority required " is the majority of an " ordinary resolution," as denned in clause 168...

The new law of bankruptcy; containing the Bankruptcy Act (46 and 47 Vict. c.52), introduction, tables, notes and index by Archibald B. Bence Jones

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