BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 88 Regulations as to first meeting of creditors.

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BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 88

Regulations as to first meeting of creditors.

88. On the hearing of such application the Court may, if it think fit, make an
order to summon a general meeting of the creditors of the bankrupt, and the
creditors at such meeting, or at any adjournment thereof, shall and may do as
follows:

(1)They may, by a special resolution as defined by this Act, declare that the
estate of the bankrupt is to be wound up by a trustee and a committee of
inspection:

(2)They may by resolution appoint some fit person, whether a creditor or not,
to fill the office of trustee of the property of the bankrupt, at such
remuneration as they may from time to time determine, if any; or they may
resolve to leave his appointment to the committee of inspection herein-after
mentioned:

(3)They shall, when they appoint a trustee, by resolution declare what
security is to be given, and to whom, by the person so appointed, before he
enters on the office of trustee:

(4)They shall, when they appoint a trustee, by resolution also appoint some
other fit persons, not exceeding five in number, and being creditors qualified
to vote at such first meeting of creditors as is in this Act mentioned, or
authorised in the prescribed form by creditors so qualified to vote, to form a
committee of inspection for the purpose of superintending the administration
by the trustee of the bankrupt's property:

(5)They may by resolution give directions as to the manner in which the
property is to be administered by the trustee, and it shall be the duty of the
trustee to conform to such directions, unless the Court for some just cause
otherwise orders.

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Northern Irish Legislation

BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 88