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BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 60

Composition after bankruptcy.

60. When a person who has been made a bankrupt has not obtained his
certificate, then from and after the passing of the final examination, or the
close of the bankruptcy, as the case may be, the following consequences shall
ensue:

(1)No portion of a debt provable under the bankruptcy shall be enforced
against the property of the person so made bankrupt until the expiration of
three years from the passing of the final examination or the close of the
bankruptcy, as the case may be; and during that time if he pay to his
creditors such additional sum as will, with the dividend paid out of his
property during the bankruptcy, make up [50p] in the pound, he shall be
entitled to a certificate of conformity in the same manner as if a dividend of
[50p] in the pound had originally been paid out of his property:

(2)At the expiration of a period of three years from the passing of the final
examination or the close of the bankruptcy, as the case may be, if the debtor
made bankrupt has not obtained a certificate of conformity, any balance
remaining unpaid in respect of any debt proved in such bankruptcy (but without
interest in the meantime) shall be deemed to be a subsisting debt in the
nature of a judgment debt, and subject to the rights of any persons who have
become creditors of the debtor since the passing of the final examination or
the close of his bankruptcy, as the case may be, may be enforced against any
property of the debtor with the sanction of the Court, but to the extent only,
and at the time and in the manner directed by the Court, and after giving such
notice and doing such acts as may be prescribed in that behalf.]

Definition of process.

© 1872 Crown Copyright

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