Section 36 of Insolvency Act CAP 53: Appointment of interim trustee of debtor's property on application of creditor

    

(1) After a creditor's application has been made, the creditor or any other creditor of the debtor may apply to the Court for an order for the appointment of an authorised insolvency practitioner as interim trustee in respect of all or a specified part of the debtor’s property.
(2) The Court may make such an order at any time before a bankruptcy order is made in respect of the debtor.
(3) In making an order under subsection (1), the Court may authorise the interim trustee to do all or any of the following—
(a) take control of any property of the debtor;
(b) sell any perishable property or property of the debtor that is likely to fall rapidly in value; (c) control the affairs or property of the debtor as directed by the Court.
(4) An order authorising the trustee to control a debtor's business may not extend beyond what, in the Court's opinion, is necessary to conserve the debtor's property.
(5) The Official Receiver and any authorised insolvency practitioner are suitably qualified persons for the purpose of subsection (1).
(6) In this section, "debtor's business" includes any business in which the debtor has a financial interest.


Disclaimer: This document is not to be taken as legal advise.

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