Act Of Bankruptcy in Europe
Definition of Act Of Bankruptcy
An act of a debtor on which a bankruptcy petition may le grounded. (Bankruptcy Act, 1914)
The acts of bankruptcy are summarised in Ringwood’s Principles of Bankruptcy as follows :
A. If in England or elsewhere a debtor makes a conveyance or assignment of his property to a trustee or trustees for the benefit of his creditors generally (1)
B. If in England or elsewhere a debtor makes a fraudulent conveyance, gift, delivery, or transfer of his property, or of any part thereof (2)
C. If in England or elsewhere a debtor makes any conveyance or transfer of his property or any part thereof, or creates any charge thereon, which would be void as a fraudulent preference if he were adjudged bankrupt (3)
D. If with intent to defeat or delay his creditors he does any of the following things, namely, departs out of England, or (4)
being out of England remains out of England, or (5)
departs from his dwelling-house, or (6)
otherwise absents himself, or (7)
begins to keep house (8)
E. If execution levied against him by seizure of his goods and sale, or (9)
held by sheriff for twenty -one days (10)
F. If he files in the Court a declaration of his inability to pay his debts, or (11)
presents a bankruptcy petition against himself (12)
G. Non-compliance with the requirements of a bankruptcy notice (13)
H. If the debtor gives notice to any of his creditors that he has suspended, or (14)
that he is about to suspend payment of his debte (15)
Section 107, sub-section 4. On a judgment summons in lieu of committal the Court may make a Receiving Order, in which case the debtor shall be deemed to have committed an act of bankruptcy (16)
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Definition of Act Of Bankruptcy is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.
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