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Section 124 of Insolvency Act CAP 53: Bankruptcy trustee cannot claim interest in land if bankrupt remains in possession until discharge

    

(1) The bankruptcy trustee cannot, after the bankrupt's discharge, claim an interest in land to which section 123(1) applies and for which the bankruptcy trustee has not registered a transmission if the bankrupt—
(a) was in possession of the interest when the bankruptcy commenced; and
(b) remained in possession until discharge from bankruptcy.
(2) Subsection (1) applies whether or not the bankruptcy trustee gave a notice under section 123(2)(b).
(3) However, the bankruptcy trustee may apply to the Court for an order that the bankruptcy trustee is entitled, after discharge, to claim the bankrupt's interest in the land.
(4) In deciding whether or not to make an order on the hearing of an application made under subsection (3), the Court shall have regard to—
(a) the good faith of the bankrupt;
(b) the time that has elapsed since the bankruptcy commenced;
(c) the value of any improvements made by the bankrupt; and (d) all other relevant matters.

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