Section 97 of Insolvency Act CAP 53: When creditor under bill of exchange or promissory note may vote at creditors' meeting
(1) A debt on, or secured by, a current bill of exchange or promissory note entitles the creditor to vote only if the creditor is willing to take the following steps—
(a) to treat a qualifying liability as a charge in the creditor's hands;
(b) to estimate the value of the charge;
(c) to deduct the value of the charge from the creditor's claim for the purposes of voting (but not for the purposes of distribution under this Part);
(d) to show the bill or note to the bankruptcy trustee when the bankruptcy trustee requires it.
(2) In this section, "qualifying liability" means the liability to the creditor on the bill or note of every person who—
(a) is liable on the bill or note antecedently to the debtor; and (b) is not a bankrupt.
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- Section 101 - Creditors' right to inspect documents
A creditor who has lodged a creditor's claim, or an advocate or a certified public accountant who is acting for the creditor, is entitled at any reasonable time to inspect or take copies of—
(a) the...
- Section 102 - Committee of creditors may be established
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(2) A general meeting of the creditors of a...
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(2) If, in the case of a bankruptcy, no...
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- Section 105 - Property vests in replacement bankruptcy trustee
If the bankruptcy trustee is replaced, the property and powers vested in the former bankruptcy trustee under this Act vest in the replacement bankruptcy trustee.
- Section 106 - Property held in trust by bankrupt
Property held by the bankrupt in trust for another person vests in the bankruptcy trustee, who shall assume control of the property and deal with it for the benefit of the beneficiaries of the trust.
- Section 107 - Court may order money due to bankrupt to be assigned to bankruptcy trustee
(1) If a bankruptcy trustee considers it necessary to do so, the bankruptcy trustee may apply to the Court for an order under subsection (2).
(2) On the hearing of an application made under...
- Section 108 - Certain payments to be applied in accordance with the Second Schedule
The bankruptcy trustee shall apply the following payments in accordance with the Second Schedule
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- Section 109 - When execution creditor may retain execution proceeds
(1) This section applies if a bankruptcy order has been made in respect of a debtor but, before the order was made, a creditor has—
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- Section 110 - Effect of notice to judicial enforcement officer of bankruptcy
(1) This section applies if a judicial enforcement officer who has taken the property of a debtor in execution is served with notice of the debtor's bankruptcy—
(a) before the property is sold;...
- Section 111 - Judicial enforcement officer to retain proceeds of execution for fourteen days after sale
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(a) sells property of the debtor; or
(b) is paid money in...
- Section 112 - Purchaser under sale by judicial enforcement officer acquires good title
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- Section 113 - Court may set aside rights conferred on bankruptcy trustee
(1) An execution creditor may make an application to the Court for an order setting aside the rights of the bankruptcy trustee under section 110 or 111.
(2) On the hearing of an application made...
- Section 114 - Transaction in good faith and for value after bankruptcy
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- Section 115 - Executions and attachments in good faith
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- Section 116 - When execution or attachment completed for purposes of sections 109 and 115
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- Section 117 - Bankruptcy trustee's interest in property passes to transferee
If the bankruptcy trustee's interest in property is acquired by or passes to a bankrupt after bankruptcy has commenced—
(a) the bankruptcy trustee's interest in the property ends; and
(b) that...
- Section 118 - Bankruptcy trustee may disclaim onerous property
(1) The bankruptcy trustee may disclaim onerous property, subject to section 121.
(2) Subsection (1) applies even if the bankruptcy trustee has taken possession of the property, tried to sell it, or...
- Section 119 - Effect of disclaimer
A disclaimer by the bankruptcy trustee—
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- Section 120 - Position of person who suffers loss as result of disclaimer
(1) A person who sustains loss or damage as a result of disclaimer by the bankruptcy trustee may—
(a) claim as a creditor in the bankruptcy for the amount of the loss or damage, taking account of the...
- Section 121 - Bankruptcy trustee may be required to elect whether to disclaim
The bankruptcy trustee loses the right to disclaim onerous property if—
(a) a person whose rights would be affected by the disclaimer has sent the bankruptcy trustee a notice requiring the bankruptcy...
- Section 122 - Liability for rentcharge on bankrupt's land after disclaimer
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- Section 123 - Transmission of interest in land
(1) This section applies to an interest in land that—
(a) is owned by the bankrupt;
(b) is subject to a mortgage or a charge; and
(c) is not disclaimed by the bankruptcy trustee.
(2) The...
- Section 124 - Bankruptcy trustee cannot claim interest in land if bankrupt remains in possession until discharge
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- Section 125 - Bankruptcy trustee may transfer shares and other securities
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- Section 126 - Bankruptcy trustee may disclaim liability under shares
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- Section 128 - Bankruptcy trustee may be required to elect whether to disclaim liability under shares
The bankruptcy trustee loses the right to disclaim liability under shares if—
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- Section 129 - Transfer of shares after disclaimer
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In this Division—
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- Section 132 - Restrictions on creditor dealing with goods
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(a) took possession of the goods within the twenty-one days immediately...
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(a) the...
- Section 135 - Creditor may assign goods to bankruptcy trustee
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(a) the bankrupt purchased goods under a credit purchase transaction before the time the bankruptcy commenced; and
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(2) The duty imposed by...
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- Section 142 - Bankrupt to deliver property to bankruptcy trustee on demand
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- Section 143 - Court may impose charge on bankrupt's property
(1) If—
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- Section 144 - Bankrupt to give bankruptcy trustee accounting records and other documents
(1) As soon as practicable after being adjudged bankrupt, the bankrupt shall—
(a) deliver to the bankruptcy trustee relevant documents that are in the bankrupt's possession or control;...
- Section 145 - Bankrupt to give bankruptcy trustee information relating to property
A bankrupt shall—
(a) as soon as practicable after being adjudged bankrupt—
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- Section 146 - Bankrupt to give bankruptcy trustee information relating to income and expenditure
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(2) A bankrupt...
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(2) A bankrupt who, without...