Bankruptcy And Insolvency Reports Cases Determined Before The Court Of Appeal In Bankruptcy C Et 1853 To Mt 1854 PDF Download

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1855 edition. Excerpt: ...of Equity as to the appointment of a receiver. It has long been a settled rule that no Master of the Court could be appointed a receiver, 1854-, because it was part of the official duty of a Master to check the Exparte accounts of receivers; and though he might have nothing to do Russell, wjtn tne account8 of that particular estate, the Court held that IK RE Minnitt. it would be unsafe to allow him to act in that capacity. Again, Judgment, in the case of a lunatic's estate, it is a settled rule that the committee shall not be appointed receiver. A still more analogous case to the present is the case in which the creditors of a bankrupt had so much confidence iu him, that they appointed him assignee of his own estate; but the Court removed him, on the ground that his duties as assignee were inconsistent with his position as a bankrupt. So, in the present case, the duty of preparing the balance-sheet is inconsistent with that of examining it. It has been said that the effect of a decision against the rule of the Commissioner will be to throw the estates of bankrupts into the hands of accountants, to the injury of the creditors. I have too much confidence in the Commissioners to apprehend any such result. I am satisfied that they will exercise a sound discretion as to making allowances out of the estates of bankrupts for the preparations of the accounts. Again, it has been argued that no evil can arise from the rule laid down by the Commist sioner, as the items of the accounts have to be vouched. But this is a short-sighted view; for if the first accounts rendered by the bankrupt are insufficient, a further account will be culled for; and if the official assignee has been employed to make out the accounts, he cannot, in dealing with the...