The Bankrupt Act of 1867: Consolidated with Its Amendments, Including the Amendatory and Supplementary Act of 1874 (Google eBook)

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Soule, Thomas & Wentworth, 1874 - Bankruptcy - 61 pages
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Page 19 - In all cases of mutual debts or mutual credits between the estate of a bankrupt and a creditor the account shall be stated and one debt shall be set off against the other, and the balance only shall be allowed or paid.
Page 19 - No creditor whose debt is provable shall be allowed to prosecute to final judgment any suit at law or in equity therefor against the bankrupt until the question of the debtor's discharge shall have been determined ; and any such suit or proceedings shall, upon the application of the bankrupt, be stayed to await the determination of the court in bankruptcy on the question of the discharge...
Page 42 - Court, on satisfactory evidence, that the composition or scheme cannot in consequence of legal difficulties, or for any sufficient cause, proceed without injustice or undue delay to the creditors or to the debtor, or that the approval of the Court was obtained by fraud the Court may, if it thinks fit, on application by any creditor, adjudge the debtor bankrupt, and annul the composition or scheme...
Page 45 - ... for the doing of any act, or for any other purpose, the same shall be reckoned, in the absence of any expression to the contrary, exclusive of the first, and inclusive of the last day...
Page 42 - ... fictitious debt against his estate, he shall fail to disclose the; same to his assignee within one month after coming to the knowledge or belief thereof; or shall attempt to account for any of his property by fictitious losses or expenses...
Page 29 - ... the assignee may recover the property, or the value of it, from the person so receiving it, or so to be benefited.
Page 31 - ... net proceeds of the joint stock shall be appropriated to pay the creditors of the copartnership, and the net proceed; of the separate estate of each partner shall be appropriated to pay his separate creditors...
Page 33 - That any person residing and owing debts as aforesaid, who, after the passage of this act, shall depart from the State, district, or Territory, of which he is an inhabitant, with intent to defraud his creditors, or, being absent, shall, with such intent, remain absent...
Page 12 - ... such assignment shall relate back to the commencement of the proceedings in bankruptcy, and by operation of law shall vest the title to all such property and estate, both real and personal, in the assignee...
Page 29 - ... with a view to give a preference to any creditor or person having a claim against him, or who is under any liability for him, procures any part of his property to be attached, sequestered, or seized on execution...

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