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1036
Enquire within upon everything
·
Robert Kemp Philp
560
[A
SWALLOW
MAKES
NOT
SUMMER
OR
SPRING-TIME.]
1543.
Public
Examination.
Before
any
resolution
or
composition
is
approved
by
creditors,
a
public
examination
of
the
bankrupt,
on
oath,
must
be
held
by
the
Court,
at
which
the
Receiver
must
be
present.
1544.
Composition
or
Scheme
of
Arrangement.
The
creditors
may
at
their
first
meeting
or
any
adjournment
thereof,
by
special
resolution,
entertain
a
composition
or
scheme
of
arrangement,
and
if
the
same
be
accepted
by
the
creditors,
application
must
be
made
to
the
Court
to
approve
it,
the
Official
Receiver
reporting
as
to
the
terms
of
the
composition
or
arrangement,
which
the
Court
will
approve
or
reject
according
to
the
circumstances.
1545.
Default
in
Payment
of
Instalments.
Default
in
payment
of
instalments,
in
composition
or
scheme,
renders
the
debtor
liable
to
be
adjudged
bankrupt
on
application
by
any
creditor
to
the
Court.
1546.
Adjudication
of
Bankruptcy
when
a
Composition
is
not
Accepted.
If
after
a
receiving
order
has
been
made
the
creditors
resolve
that
the
debtor
be
adjudged
bankrupt,
or
pass
no
resolution,
or
do
not
meet,
or
if
a
composition
or
scheme
is
not
accepted
and
approved
within
fourteen
days
after
the
debtor's
public
examination,
the
Court
will
adjudge
the
debtor
bankrupt,
and
his
property
shall
become
divisible
among
his
creditors,
and
shall
vest
in
a
Trustee.
Notice
of
such
adjudication
must
be
advertised
in
the
London
Gazette
and
locally.
1547.
Appointment
of
Trustee.
The
creditors
of
a
bankrupt
may,
by
resolution,
appoint
a
Trustee
of
the
debtor's
property.
If
this
has
not
been
done
prior
to
adjudication,
the
Official
Receiver
shall
call
a
creditors'
meeting
for
that
purpose.
The
creditors
may
resolve
to
leave
the
appointment
to
the
committee
of
inspection.
The
person
appointed
shall
give
security
to
the
Board
of
Trade,
which
shall,
if
it
sees
fit,
certify
the
appointment.
If
no
Trustee
is
appointed
by
the
creditors,
the
Board
may
appoint
one.
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