Section 68 of Insolvency Act CAP 53: Proceedings by bankruptcy trustee when bankrupt is partner in business partnership

    

(1) If a member of a business partnership is adjudged bankrupt, the Court may authorise the bankruptcy trustee to bring proceedings in the names of the bankruptcy trustee and the bankrupt's partner.
(2) The bankruptcy trustee shall serve notice of the application on the partner for authority to bring the proceedings, and the partner may oppose the application.
(3) The partner may apply to the Court for a direction that—
(a) the partner is to be paid the partner's proper share of the proceeds of the proceedings; or
(b) the partner is to be indemnified by the bankruptcy trustee against any costs incurred in the proceedings on the condition that the partner does not claim any benefit from them.
(4) Any purported release by the partner of the debt or demand to which the proceedings relate is void.


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

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