✨ Continuation of Bankruptcy Rules
806
THE NEW ZEALAND GAZETTE.
intention to apply to the Court, on such day as may
be fixed by the Registrar, for an order under sub-
section 5 of the said section.
-
The Registrar shall thereupon issue a summons
in the form (No. 4) in the Schedule hereto, or to the
effect thereof, calling upon the debtor, within three
days after service thereof upon him, to show cause
why an order should not issue directing the creditor
making the application, or such other person as the
Court or Judge thereof may direct, to call a meeting
of the creditors of such debtor. -
A copy of such summons shall be served person-
ally upon the debtor: Provided that if the debtor
shall be absent from the colony, with intent to defeat
or delay his creditors, or if it shall appear to the Court
that reasonable efforts have been made to effect per-
sonal service, and that the debtor cannot be found,
then the Court or a Judge thereof may, in a summary
way, and upon such evidence as it or he shall think
sufficient, order that a copy of the summons shall
be served at the last-known place of abode or business
of the debtor. -
If the proceedings are against more than one
debtor, as members of a copartnership firm, service
on one of the copartners at the office or place of
business of the firm shall be deemed good service on
all the copartners. -
The summons shall be served at least one day
before the day on which it is returnable, unless on
sufficient grounds being shown the Court or a Judge
thereof otherwise directs.
An affidavit of the service of a copy of the sum-
mons and the time and place of the service shall be
annexed to the original, and shall be filed in the
office of the Court.
-
The Court on hearing the application shall have
full power either to adjourn the hearing or to dismiss
the application, and may make such rule or order
touching the proceedings at and the costs of such
application as it may think fit. -
The order to be made by the Court may be in
the form No. 5 set forth in Schedule hereto, and shall
fix the time and place of the first meeting, and shall
be published in such local paper besides the Gazette
as the Court may direct.
The Court may also, having regard to the evidence
adduced before it on the application, as to the pro-
bable number of creditors and the debts of the debtor
fix the place of meeting for the first meeting, and
such place shall be deemed to be the "prescribed
place" for the purposes of the Act: Provided that
when the debtor is absent from the colony, then the
application to fix such place must be made as herein-
after provided.
-
A copy of such order shall where practicable be
forthwith served upon the debtor, either by deliver-
ing the same personally or by leaving the same at
his last-known or usual place of abode or business. -
Where it is intended to obtain leave from the
Court, under section 22 of the Act, to proceed in the
liquidation in the absence of the debtor, an affidavit
shall be filed setting forth the grounds on which
the application for such leave is based, and if the
same appear to the Court or Judge to be sufficient,
the Court or Judge may forthwith issue the order. -
Such order shall state the time and place of the
meeting and shall be gazetted, and may be in the
form (No. 6) set forth in the Schedule hereto.
MEETINGS, ETC.
-
Subject to the provisions of the Act and these
Rules, no business shall be transacted at any ordi-
nary meeting unless there shall be present personally
or by proxy one-fourth in number or value of the
creditors who shall have proved their debts or claims,
and such number of creditors shall, unless the cre-
ditors shall by special resolution otherwise deter-
mine, be the quorum at all ordinary meetings:
Provided that nothing herein contained shall be
deemed to affect the provisions of the Act as to the
number of creditors required to vote on the passing
of the liquidation resolution. -
First meetings shall be held at the following
places, which shall be deemed to be the "prescribed
place" for the purposes of the said Act, that is to
say,-
(1.) Where the debtor resides] within ten miles
of the Court House in the district where he
resides or carries on business, then such meet-
ing shall be held at the Court House, unless
the Judge of the Court shall otherwise order.
(2.) Where the debtor resides more than ten
miles from the Court, then the meeting shall
be at such Resident Magistrate's Court or
other convenient place within the district as
the Registrar may fix at the time the debtor
files his statement; the place so fixed shall be
noted on the certificate to be issued as herein-.
before provided.
-
Where a first meeting is summoned, and the cre-
ditors have assembled at the time and place appointed,
they shall at once elect their Chairman, who shall
preside over such meeting. -
At every adjourned meeting, or at any subse-
quent meeting in the liquidation, the person elected
Chairmain of the first meeting shall preside, if he be
present at the time at which the meeting is convened,
if not, some other person may be elected by the cre-
ditors present. Every such Chairman shall have a
casting vote in addition to his original vote or votes. -
If the meeting is summoned by the debtor, he
shall, immediately after the election of the Chairman,
produce and deliver to the Chairman the certificate
issued to him by the Registrar under section 19 of
the Act, and also a statement, duly verified by affi-
davit, showing the whole of his assets and debts, and
the names and addresses of the creditors to whom his
debts are due, and the Chairman shall thereupon call
upon the creditors for proofs of debt, made in the pre-
scribed manner, to be laid before the meeting. If,
the meeting is called by a creditor, the creditor shall
produce to the meeting the order of Court autho-
rizing him to call such meeting, and the same shall be
entered in the minute book. -
A book shall be provided for entering the
minute of proceedings at all meetings of creditors
in any liquidation, and shall be called "The Minute
Book of Proceedings in the Liquidation of the Estate
of
, a Debtor."
Every proceeding and resolution of each meeting
shall be fairly transcribed in ink in such minute
book, and at the close or adjournment of each meet-
ing the proceedings shall be signed by the Chairman,
and the minute book forwarded to the Registrar of
the Court, to be by him kept in safe custody until
again required for any adjourned or subsequent
meeting. If the meeting should not be closed or
adjourn within the office hours of the Court, such
minute book shall be forwarded to the Registrar
immediately on the office of the Court being opened
on the next day.
Such minute book shall, during the hours at which
the office of the Court shall be open, be accessible for
the purpose of inspection by any person desiring to
inspect the same; but no entry or other proceeding
shall in any case be altered or amended except by the
Chairman at a meeting, and with the approval of the
creditors.
- The liquidation resolution shall be proposed
by a creditor and seconded by another creditor, or
by the duly constituted proxy of any such creditor;
but, before being put to the meeting, the Chairman
Next Page →
✨ LLM interpretation of page content
⚖️
Continuation of Rules under The Debtors and Creditors Act, 1875 (Procedure and Meetings)
(continued from previous page)
⚖️ Justice & Law Enforcement14 December 1875
Rules, Procedure, Liquidation, Creditors meeting, Quorum, Chairman, Minute Book, Court
NZ Gazette 1875, No 72