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IRISH BANKRUPT AND INSOLVENT ACT 1857 - SECT 150

Mode of voting in deciding upon such composition.

150. In deciding upon the offer of composition [at the aforesaid meeting of
creditors, or upon any proposal at the aforesaid special sitting of the Court
to confirm, alter, or annul the whole or any part of the acceptance of such
offer], no creditor whose debt is below twenty pounds shall be reckoned in
number, but the debt due to such creditor shall be computed in value; and
every creditor to the amount of fifty pounds and upwards, residing out of
Ireland, shall be served personally, or in such other form as the Court shall
direct, with a copy of the notice of the meeting to decide upon such offer as
aforesaid [or of the special sitting of the Court where such special sitting
is to be held], and of the purpose for which the same is called, so long
before such meeting [ or such special sitting of the Court] as that he may
have time to vote thereat; and if any creditor shall agree to accept any
gratuity or higher composition for assenting to such offer, he shall forfeit
the debt due to him, together with such gratuity or composition; and the
bankrupt shall (if thereto required) make oath before the Court that there has
been no such transaction between him, or any person with his privity, and any
of the creditors, and that he has not used any undue means of influence with
any of them to attain such assent.

Ss.151177 rep. by SLR 1893; SLR (NI) 1954; SLR 1976. Ss.178244 rep. by 1872
c.58 s.5 sch.(A). S.245 rep. by 1980 NI 4 art.44(2)(b) sch.3

When and how debts may be proved in bankruptcy.

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© 1857 Crown Copyright

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