Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697806327258.pdf (Jamaica)
147 (f) accept as the consideration for the sale of any property ofthe bankrupt a sum ofmoney payable at a future time, subject to such stipulations as to security and otherwise as the inspectors think fit; (g) incur obligations, borrow money and give security on any property of the bankrupt by mortgage, charge, assignment, pledge or otherwise, and the obligations and money borrowed shall be discharged or repaid with interest out ofthe property of the bankrupt in priority to the claims ofthe creditors; (h) compromise and settle any debts owing to the bankrupt; (i) compromise any claim made by or against the estate; (j) assign or transfer to a particular creditor, or divide in its existing form among the creditors, according to its estimated value, any property that from its particular nature or other special circumstances cannot be readily or advantageously sold; (k) disclaim any property which, by its own state or nature is onerous or, binds the bankrupt to the performance of any onerous act or to the payment ofany sum ofmoney; (1) elect to retain for the whole part ofits unexpired term, or to assign, surrender, disclaim any lease of, or other temporary interest in, any property ofthe bankrupt; and (m) appoint the bankrupt to aid in administering the estate of the bankrupt in such manner and on such terms as the inspectors may direct.
(2) Permission given for the purposes of subsection (1) is not a general permission to do all or any ofthe things mentioned in that subsection, but is only a permission to do the particular thing or things or class ofthing or things that the permission specifies.

262.-{1) With the permission ofthe Court, an interim-receiver Power to make or trustee, may prior to the appointment of inspectors, make =;.~~.
148 necessary or advisable advances, incur obligations, borrow money and give security on the property ofthe debtor in such amounts, on such terms and on such property as may be authorized by the Court; and those advances, obligations and moneys borrowed shall be repaid out ofthe property of the debtor in priority to the claims of the creditors.
(2) The creditors or inspectors may by resolution limit­ (a) the amount ofthe obligations that may be incurred; and (b) the advances that may be made or moneys that may be borrowed by the trustee and may limit the period oftime during which the business ofthe bankrupt may be carried on by the trustee.

(3) All debts incurred and credit received in carrying the business of a bankrupt are deemed to be debts incurred and credit received by the estate ofthe bankrupt.

263.
263.

The trustee is not under any obligation to carry on the business ofthe bankrupt­ (a) where in the trustee's opinion the realizable value ofthe property of the bankrupt is insufficient to protect the trustee fully against possible loss occasioned by so doing; and (b) the creditors or inspectors, on demand made by the trustee, neglect or refuse to secure the trustee against such possible loss.
264.-{1) The Court may make an order providing for the sale of any or all of the assets of the estate of the bankrupt, either by tender, private sale or public auction, setting out the terms and conditions ofthe sale and directing that the proceeds from the sale shall be used for the purpose of reimbursing the trustee in respect ofany costs that may be owing to the trustee or ofany moneys that the trustee may have advanced for the benefit ofthe estate.
(2) Ifno bid is received for the assets ofthe estate ofthe bankrupt sufficient to reimburse the trustee, the Court may make an Trustee not required to operate business.

Order for sale of assets.

149 order vesting in the trustee personally all assets of the estate and on the making of the order the rights to the assets and interests of the creditors and ofthe bankrupt to the assets, shall be determined and ended.

.
.

265.-( I) A trustee may apply to the Court for directions in Appl!cati?n f fordlfectlons e estate 0 a by trustee.

reIation to any matter bankrupt and the Court shall give in writing such directions, ifany, -as appears to be proper in the circumstances.

lrustratlon 0 ecting e th adm" fth affi .

.


(2) Where an estate has not been fully administered within three years after the bankruptcy, the trustee shall report that fact to the Court as soon as practicable thereafter, and the Court shall make such order as it considers fit to expedite the administration of the estate.
266.-( I) Subject to subsection (2), the trustee may, by sending ::iirection of to the Postmaster General­ (a) a notice in the prescribed form; and (b) a copy of the trustee's certificate of appointment, request that any mail addressed to a bankrupt that is directed to any place referred to in the notice be redirected or sent by the Postmaster General to the trustee or to such other person as the trustee may designate; and when the Postmaster General receives those documents, he shall so redirect or send that mail.
(2) A notice referred to in subsection (1) may refer to a bankrupt's residence only where the trustee has, on application, obtained permission from the Court.

(3) Where a bankrupt is an individual, a notice referred to in subsection (1) is operative only during the three-month period immediately following the date ofbankruptcy unless the Court, on application, extends that period on such terms as the Court considers fit.
267.-(1) On the appointmentofa substituted trustee, the former Fonnertrustee trustee shall forthwith pass his or its accounts before the Court and ::O:ts.

150 deliver to the substituted trustee all the property ofthe estate, together with all books and records ofthe bankrupt and ofthose relating to the administration ofthe estate.
(2) A substituted trustee shall­ (a) if appointed by the creditors, file with the Court a copy of the minutes of the meeting at which the substituted trustee was appointed signed by the Chairman; (b) notify the Supervisor ofthe appointment ofthe substituted trustee; (c) if required by the inspectors, register a notice of the appointment in the land register of any land titles or registry office where the assignment or receiving order has been registered; and (d) as soon as funds are available, pay to the former trustee such remuneration and disbursements as approved by the Court.
268.

Where the bankrupt or any of the creditors or any other person is aggrieved by any act or decision of the trustee, the aggrieved person may apply to the Court and the Court may confirm, reverse or modify the act or decision complained ofand make such other order in the premises as it thinks just.
.. uld be c. tha· hi t m s opmlOn wo th be lOr e ne It 0 269.-(1) Where a creditor requests the trustee to take any edi e estate proce ngs of a bankrupt and the trustee refuses or neglects to take the proceedings, the creditor may obtain from the Court an order authorizing him to take the proceedings in his own name and at his own expense and risk, on notice being given to the other creditors of the contemplated proceeding, and on such other terms and conditions as the Court may direct.
fth fi (2) On an order under subsection (1) being made, the right, title and interest in the chose-in-action or subject matter of the proceeding, including any document in support ofthe chose-in­ action or proceedings shall vest in the creditor.

Application to Court by aggrieved party.

Trus~ee refUSing to act.


151 (3) Any benefit derived from a proceeding taken pursuant to subsection (1), to the extent of his claim and the costs, belongs exclusively to the creditor instituting the proceedings, and the surplus, ifany, belongs to the estate.
(4) Where, before an order is made under subsection (1), the trustee, with the permission of the inspectors, signifies to the Court his readiness to institute the proceedings for the benefit of the creditors, the order shall fix the time within which he shall do so, and in that case the benefit derived from the proceedings, if instituted within the time so fixed, belongs to the estate.

270.-(1) In subsections (2) to (8), a reference to a trustee Drutiesof rustee to sal d .

bankru I d .

.

.
bankru I d .

.

.

an mc u es an mtenm remedy ptcy or propo means a trustee m a receiver or a receiver.

environmental conditions or (2) Notwithstanding anything in any law, where a trustee damage.
carries on in that position the business of the debtor or continues the employment of the debtor's employees, the trustee is not by reason ofthat fact personally liable in respect of any claim against the debtor or related to a requirement imposed on the debtor to pay an amount where the claim arose before or upon the trustee's appointment.

(3) A claim referred to in subsection (2) shall not rank as costs ofadministration.
(4) Notwithstanding anything in any law, a trustee is not personally liable in that position for any environmental condition that arose or environmental damage that occurred­ (a) before the trustee's appointment; or (b) after the trustee's appointment, unless it is established that the condition arose or the damage occurred as a result ofthe trustee's negligence or misconduct.
(5) Nothing in subsection (6) exempts a trustee from any duty to report or make disclosure imposed by a law referred to in that subsection.

.
152 (6) Notwithstanding anything in any law but subject to subsection (4), where an order is made which has the effect of requiring a trustee to remedy any environmental condition or environmental damage affecting property involved in a bankruptcy, proposal or receivership, the trustee is not personally liable for failure to comply with the order, and is not personally liable for any costs that are or would be incurred by any person in carrying out the terms ofthe order­ (a) where, within such time as is specified in the order and where no time is specified, within ten days after the order is made, within ten days after the appointment ofthe trustee, if the order is in effect when the trustee is appointed, or during the period ofthe stay referred to in paragraph (b), the trustee­ (i) complies with the order; or (ii) on notice to the person who issued the order, abandons, disposes of or otherwise releases any interest in any real property affected by the condition or damage; (b) where during the period ofa stay ofthe order granted, on application made within the time specified in the order referred to in paragraph (a), within ten days after the order is made or within ten days after the appointment of the trustee, where the order is in effect when the trustee is appointed, to­ (i) (ii) the Court or body having jurisdiction under the law pursuant to which the order was made to enable the trustee to contest the order; or the Court having jurisdiction in bankruptcy for the purposes of assessing the economic viability ofcomplying with the order; or (c) ifthe trustee had, before the order was made, abandoned or renounced or been divested ofany interest in any real property affected by the condition or damage.
i I 153 (7) The Court may grant a stay ofthe order referred to in subsection (6) on such notice and for such period as the Court deems necessary for the purpose of enabling the trustee to assess the economic viability ofcomplying with the order.

(8) Where the trustee has abandoned or renounced any interest in real property affected by the environmental condition or environmental damage, claims for costs ofremedying the condition or damage shall not rank as costs of administration.
(9) Any claim by the Crown against the debtor in a bankruptcy, proposal or receivership for costs of remedying any environmental condition or environmental damage affecting real property of the debtor is secured by a charge on the real property and on any other real property of the debtor that is contiguous thereto and that is related to the activity that caused the environmental condition or environmental damage, and the charge­ (a) is enforceable in the same way as a mortgage or other security on real property; and (b) ranks above any other claim, right or charge against the property, notwithstanding any other provision ofthis Act or anything in any other law.
(10) Notwithstanding section 155(1), a claim against a debtor in a bankruptcy or proposal for the costs of remedying any environmental condition or environmental damage affecting real property of the debtor shall be a provable claim, whether the condition arose or the damage occurred before or after the date of the filing ofthe proposal or the date ofthe bankruptcy.
Remuneration of Trustee 271.-(1) The remuneration of the trustee shall be such as is voted to the trustee by ordinary resolution at any meeting of creditors, or ifthe creditors resolve by ordinary resolution, by the inspectors.

(2) Where the remuneration of the trustee has not been fixed under subsection (1), the trustee shall apply to the Court for an order fixing the amount ofthe trustee's remuneration.

Determination oftees.


I I I 154 (3) Where the business ofthe debtor has been carried on by the trustee or under the trustee's supervision, the trustee may be allowed such special remuneration for such services as the creditors or the inspectors may by resolution authorize, and, in the case ofa proposal, such special remuneration as may be agreed to by the debtor, or in the absence ofagreement with the creditors or debtor such amount as may be approved by the Court.
(4) In the case oftwo or more trustees acting in succession, the remuneration shall be apportioned between the trustees in accordance with the services rendered by each, and in the absence of agreement between the trustees the Court shall determine the amount payable to each.

(5) On application by the trustee, a creditor or the debtor and on notice to such parties as the Court may direct, the Court may make an order increasing or reducing the remuneration.
Discharge of Trustee Property incapable or real ization.

272.-(1) With the permission ofthe inspectors, any property of a bankrupt found incapable of realization shall be returned to the bankrupt prior to the trustee's application for discharge.

(2) Where a trustee is unable to dispose ofany property as provided in this section, the Court may make such order as it may consider necessary.

Trustee to apply for discharge.


273.-(1) When a trustee has completed the duties required of the trustee with respect to the administration of the property of a bankrupt, the trustee shall apply to the Court for a discharge.

(2) The Court may discharge a trustee with respect to any estate on full administration thereof or, for sufficient cause, before full administration.
(3) A trustee when replaced by another trustee is entitled to be discharged ifthe former trustee has accounted to the satisfaction of the inspectors and the Court for all property that came to the hands ofthe former trustee and a period ofthree months has elapsed after the date of the replacement without any undisposed of claim or objection having been made by the bankrupt or any creditor.
I I I I 155 (4) When the accounts of a trustee have been approved by the inspectors and taxed by the Court and all objections, applications and appeals have been settled or disposed of and all dividends have been paid, the estate is deemed to have been fully administered.
(5) Any interested person desiring to object to the discharge of a trustee shall, at least five days prior to the date of the hearing, file notice of objection with the Registrar setting out the reasons for the objection, and serve a copy ofthe notice on the trustee.

(6) The Court shall consider the objection filed under subsection (5) and may grant or withhold a discharge or give such directions as it may deem proper in the circumstances.
(7) Nothing in or done under the authority ofthis section relieves or discharges or shall be deemed to relieve or discharge a trustee from the results ofany fraud.
(8) The discharge of a trustee discharges the trustee from all liability­ (a) in respect ofany act done or default made by the trustee in the administration ofthe property ofthe bankrupt; and (b) in relation to the trustee's conduct as trustee; but any discharge from liability may be revoked by the Court on proof that it was obtained by fraud or by suppression or concealment ofany material fact.
(9) Nothing in subsection (8) shall be construed to prevent an investigation or a proceeding in respect ofa trustee under section 236(1).

(10) The discharge ofa trustee under this section operates as are lease ofthe security provided pursuant to section 247(1).

(11) Notwithstanding his discharge, the former trustee shall perform such duties as may be incidental to the full administration ofthe estate.
156 (12) The Court, on being satisfied that there are assets that have not been realized or distributed, may, on the application of any interested person, appoint a trustee to complete the administration ofthe estate ofthe bankrupt; and the trustee shall be governed by the provisions of this Act, in so far as they are applicable.

PART X.

Courts andProcedure Jurisdiction of Courts Jurisdiction of Supreme Court.

274.
274.

The Court shall, have and exercise jurisdiction in respect ofbankrupts and matters ofinsolvency, and such jurisdiction shall be exercised under and subject to this Act and any other enactment relating to Bankruptcy and Insolvency Act.

Title of insolvency matters.

275.-(1) Every document used in the filing ofa proposal before bankruptcy must be entitled "In the Matter ofthe Proposal of...".

General power ofCourt.


(2) Every document used in the course of a receivership must be entitled "In the Matter ofthe Receivership of...".

276.
276.

Subject to this Act, the Court shall have full power to decide all questions ofpriorities and all other questions whatsoever, whether of law or fact, that may arise in any case of insolvency coming within the cognizance ofthe Court or which the Court may deem it expedient or necessary to decide for the purpose of doing complete justice or making a complete distribution of property in any such case.

~edi~g not InvaJldated.c: by defect or al d .c: b elect or y any me 277.
No proceeding in bankruptcy shall be invalidated by any hi h 10rm anty, an objection is made to the proceeding is of the opinion that substantial injustice has been caused by the defect or irregularity and that the injustice cannot be remedied by any order ofthat court.

ess e court lore w c .

unl .

gul be.c: th 278.-(1) The Court may review, rescind or vary any order made by it under its jurisdiction in insolvency.
(2) The Court may at any time adjourn any proceedings before it upon such terms, ifany, as it may think fit to impose.

irregularity.

Cowtmay review, rescind, or vary order.

I I 157 (3) The Court may at any time amend any written process or proceeding under this Act, upon such tenus,' if any, as it may think fit to impose.
279.-(1) Where in the opinion ofthe Court the cost ofpreparing ~urt may I, gIve leave to statements, ISts 0 cre s ct omitmarerial to be sent with notices to creditors, or the cost ofsending the material or t~ ~d or notices, is unjustified in the circumstances, the Court may give ::::::e ' ed b thi A y r maten tors or 0 reqUlr the 'al di f leave to omit the material or any part thereofor to send the material manner.

or notices in such manner as the Court may direct.


(2) Where by this Act the time for doing any act or thing is limited, the Court may extend the time either before or after the expiration thereof, upon such tenns, ifany, as the Court may think fit to impose.
280,-(1) Where on a without notice application by the trustee Seizureof or interim receiver the Court is satisfied by infonnation on oath that :::U~t~f there are reasonable grounds to believe there is in any place or premises any property ofthe bankrupt, the Court may issue a warrant authorizing the trustee or interim receiver to enter and search that place or premises and to seize the property ofthe bankrupt, subject to such conditions as may be specified in the warrant.
(2) In executing a warrant under subsection (1), the trustee or interim receiver shall not use force unless the trustee or interim receiver is accompanied by a constable or officer of the Court and the use offorce has been specifically authorized in the warrant.

(3) A search warrant issued under subsection (1) may be executed in the manner prescribed, or in the same manner and subject .
to the same privileges in and subject to which a search warrant for property supposed to be stolen may be executed according to law.

281.-(1) The Court may in any matter take the whole or any Evidencein part of the evidence either orally or by interrogatories or upon Court.

affidavit or, out ofJamaica, by commission, (2) Any document made or used in the course of any bankruptcy proceedings or other proceedings had under this Act !
I 158 shall, if it appears to be sealed with the seal of the Court having jurisdiction in insolvency, purports to be signed by any judge thereof or is certified as a true copy by the Registrar, be admissible in evidence in all legal proceedings.
(3) The production of an original document relating to any insolvency proceeding or a copy certified by the person making it as a true copy thereof or by a successor in that office of that person as a true copy ofa document found among the records in his control or possession is evidence ofthe contents ofthose documents.
(4) In case ofthe death ofthe bankrupt or the spouse ofa bankrupt or of a witness, whose evidence has been received by any court in any proceedings under this Act, the deposition ofthe deceased person purporting to be sealed under the seal ofthe Court, or a copy thereof purporting to be so sealed, shall be admitted as evidence ofthe matters therein deposed to.

Orders subject to appeal.


282.-{1) Orders in insolvency matters shall at the instance of any person aggrieved, be subject to appeal in the same manner as other orders ofthe Court.

(2) Where by this Act an appeal to the Court is given against any decision of the Supervisor or trustee, the appeal shall be brought within 21 days from the time when the decision appealed against is pronounced or made.

Costs are in the discretion oftile Court.

283.


Subject to this Act, the costs of and incidental to any proceedings in Court under this Act shall be in the discretion ofthe Court.

Application to Courtwhere default.

284.
Where default is made by a trustee, debtor, or other person in obeying any order or direction given by the Court, the Supervisor or the trustee under any power conferred by this Act, in addition to any other right or remedy provided for under this Act, the Supervisor, trustee, or other interested person may apply to the Court for an order requiring such person to comply with the order or direction so given, and the Court may also, if it thinks fit, upon any such application, make an immediate order for the committal of such person.
I I 159 285.

Where an action or proceeding is bought by or against a trustee, or where a trustee is made a party to any action or proceeding liable.

on his application or on the application of any other party thereto, he is not personally liable for costs unless the Court otherwise directs.

Trustee not personally PART XI.

International Insolvencies 286.

In this Part­ Interpretation.
"debtor" means an insolvent person who has property in Jamaica, a bankrupt who has property in Jamaica or a person who has the status of a bankrupt under foreign law in a foreign proceeding and has property in Jamaica; "foreign proceeding" means a judicial or administrative proceeding commenced outside Jamaica in respect of a debtor, under a law relating to bankruptcy or insolvency and dealing with the collective interests of creditors generally; "foreign representative" means a person, other than a debtor, holding office under the law of a jurisdiction outside Jamaica who, irrespective of the person's designation, is assigned, under the laws of the jurisdiction outside Jamaica, functions in connection with a foreign proceeding that are similar to those performed by a trustee, liquidator, administrator or receiver appointed by the Court.
I 287.-{1) For the purposes of this Part, where a bankruptcy, Copyoforder to be proof of d has be .

.

lik .

InSO vency, reorgaruzatIon or ofa debtor in a foreign proceeding, a certified or exemplified copy of the order is, in the absence of evidence to the contrary, proof that the debtor is insolvent and proof of the appointment of the foreign representative made by the order.

e or er ad· .en m e In respect events.


(2) Where a foreign proceeding has been commenced and a receiving order or assignment is made under this Act ,in respect \?f a debtor, the Court may, on application and on such terms as it \.

\ I I 160 considers appropriate, limit the property to which the authority of the trustee extends to the property ofthe debtor situated in Jamaica and to such property of the debtor outside Jamaica as the Court considers can be effectively administered by the trustee.
(3) The Court may, in respect of a debtor, make such orders and grant such relief as it considers appropriate to facilitate, approve or implement arrangements that will result in a co­ ordination of proceedings under this Act with any foreign proceeding.

(4) An order of the Court under this Part may be made on such terms and conditions as the Court considers appropriate in the circumstances.
(5) Nothing in this Part prevents the Court, on the application ofa foreign representative or any other interested person, from applying such legal or equitable rules governing the recognition of foreign insolvency orders and assistance to foreign representatives as are not inconsistent with the provisions of this Act.

(6) Nothing in this Part requires the Court to make any order that is not in compliance with the laws of Jamaica or to enforce any order made by a foreign court.

288.
288.

A stay of proceedings that operates against creditors of a debtor in a foreign proceeding does not apply in respect ofcreditors who reside or carry on business in Jamaica with respect to property in Jamaica unless the stay ofproceedings is the result ofproceedings taken in Jamaica.

289.
289.

A foreign representative may commence and continue proceedings pursuant to Parts III and V in respect of a debtor as if the foreign representative were a creditor, trustee, liquidator or receiver of property of the debtor, or the debtor.

.

290.-( I) The Court may seek the aid and assistance ofa court, tribunal or other authority in a foreign proceeding by order or written request or otherwise as the Court considers appropriate.

Stay of proceedings not to apply unless proce­ dings taken in Jamaica.
foreign representative takceenain proceedings.

coun may scekaid of foreign authority.
161 (2) On application by a foreign representative in respect of a foreign proceeding commenced for the purpose of effecting a composition, an extension of time or a scheme of arrangement in respect of a debtor or in respect ofthe bankruptcy of a debtor, the Court may grant a stay of proceedings against the debtor or the debtor's property in Jamaica on such terms and for such period as is consistent with the relief provided for under sections 41 to 44 in respect of a debtor in Jamaica who files a notice of intention or a proposal or who becomes bankrupt in Jamaica (3) On application by a foreign representative in respect of a debtor, the Court may, where it is satisfied that it is necessary for the protection ofthe debtor's estate or the interests ofa creditor or creditors­ (a) appoint a trustee as interim receiver of all or any part of the debtor's property in Jamaica, for such term as the Court considers appropriate; and (b) direct the interim receiver to do all or any of the following­ (i) (ii) take conservatory measures and summarily dispose ofproperty that is perishable or likely to depreciate rapidly in value; take possession of all or part of the debtor's property mentioned in the appointment and exercise such control over the property and over the debtor's business as the Court considers appropriate; and (iii) take such other action as the Court considers appropriate.
(4) Section 17 applies, with such modifications as the circumstances require, in respect of an interim receiver appointed under subsection (3).

I, I I ~.. 162 (5) On application of a foreign representative in respect ofa debtor, the Court may authorize the examination under oath by the foreign representative ofthe debtor or ofany person in relation to the debtor who, if the debtor were a bankrupt referred to in section 185, would be a person who could be examined under that subsection.
Court order maybe conditional on compliance of foo:ign representative with other court order.

291.-(1) An application to the Court by a foreign representative under this Part does not submit the foreign representative.

to the jurisdiction of the Court for any other purpose except with regard to the costs ofthe proceedings, but the Court may make any order under this Part conditional on the compliance by the foreign representative with any other order ofthe Court.
Foreign representative not prevented from proceeding due to appeal.

292.-(1) A foreign representative is not prevented from making an application to the Court under this Part by reason only that proceedings by way ofappeal or review have been taken in a foreign proceeding, and the Court may, on an application where such proceedings have been taken, grant relief as ifthe proceedings had not been taken.

Dividends subject to property the creditor may acquire outside Jamaica.
293.-(1 ) Where any receiving order, proposal or assignment is made in respect of a debtor under this Act­ (a) the amount that a creditor receives or is entitled to receive outside Jamaica by way of a dividend in a foreign proceeding in respect ofthe debtor; and (b) the value of any property of the debtor that the creditor acquires outside Jamaica­ (i) (ii) on account ofa provable claim ofthe creditor; or that the creditor acquires outside Jamaica by way ofa transfer that, ifit were subject to this Act, would be set aside or reviewed under sections 113-125, shall be taken into account inthe distribution ofdividends to creditors ofthe debtor in Jamaica as ifthey were a part ofthat distribution.
163 (2) The creditor is not entitled to receive a dividend from the distribution in Jamaica referred to in subsection (1) until every other creditor who has a claim of equal rank in the order of priority established under this Act has received a dividend, the amount of which is the same percentage of that other creditor's claim as the aggregate of the amount referred to in paragraph (a) and the value referred to in paragraph (b) is ofthat creditor's claim.

294.
294.

A claim for a debt that is payable in a currency other than Claim payable Jamaican currency shall be converted to Jamaican currency- in foreign cummcy.
(a) in the case ofa proposal in respect ofan insolvent person and unless otherwise provided in the proposal, where a notice ofintention was filed under section 35, as ofthe day the notice waS filed or, if no notice was filed, as of the day the proposal was filed with the Supervisor under section 53; (b) (c) in the case of a proposal in respect of a bankrupt and unless otherwise provided in the proposal, as ofthe date ofthe bankruptcy; or in thecase ofa bankruptcy, as ofthe date ofthe bankruptcy.

PART xn.
Offences 295.-(1) Any bankrupt who- (a) makes any fraudulent disposition of the bankrupt's bankrupt Oft'eru:es committed by property before or after the date ofthe initial bankruptcy event; (b) refuses or neglects to answer fully and trut:hfully all proper qu~ons putt.oJhe bankrupt at any examination held .- ~ ----pursuant to this Act; (c) makes a false entry or knowingly makes a material omission in a statement or accounting; (d) after or within one year immediately preceding the date ofthe initial bankruptcy event­ (i) conceals, destroys, mutilates, falsifies, makes an omission in or disposes of, or is privy to i I I ' 164 the concealment, destruction.
mutilation.

falsification, omission from or disposition of.
a book or document affecting or relating to the bankrupt's property or affairs, unless the bankrupt had no intent to conceal the state of the bankrupt's affairs; (ii) obtains any credit or any property by false representations made by the bankrupt or made by any other person to the bankrupt's knowledge; (iii) fraudulently conceals any debt due to or from the bankrupt or conceals and removes any property ofthe bankrupt; (iv) hypothecates, pawns, pledges or disposes of any property that the bankrupt has obtained on credit and has not paid for, unless in the case of a trader the hypothecation, pawning, pledging or disposing is in the ordinary way oftrade and unless the bankrupt had no intent to defraud; or (e) after the filing of a petition against him, or within six months before the filing of the petition, quits Jamaica and takes with him, or attempts or makes preparation to quit Jamaica and take with him, any part ofhis property to the amount, which ought by law to be divided amongst his creditors, is guilty ofan offence and is liable, on conviction on indictment in a Resident Magistrate's Court, to a fine not exceeding two million dollars or to imprisonment for a term not exceeding three years, or to both such fine and imprisonment.
(2) A bankrupt who, without reasonable cause, fails to comply with an order ofthe Court made under section 81 or to do 16S any of the things required of the bankrupt under section 194, is guilty ofan offence and is liable­ (a) on summary conviction, to a fine not exceeding one million dollars or to imprisonment for a term not exceeding one year, or to both; or (b) on conviction on indictment, to a fine not exceeding two million dollars or to imprisonment for a term not exceeding three years, or to both, 296, An undischarged bankrupt who- Offences committed by (a) engages in any trade or business without disclosing to undischarged bankrupt.
all persons with whom he enters into any business transaction valued at more than ten thousand dollars that he is an undischarged bankrupt; or (b) obtains credit to a total often thousand dollars or more from any person or persons without informing such persons that he is an undischarged bankrupt, is guilty of an offence punishable on summary conviction and is liable to a fine not exceeding ten thousand dollars or to imprisonment for a term not exceeding one year, or to both.
f "bankrupt or e upon conviction person who 'I IS gw ty 0 an 0 ence an pums 297,-{1) Any person who, being a bankrupt or person, makes Where ffi d ' habl a propo sal .

and is liable to a fine not exceeding one million dollars or to has made d' " , c .

Impnsonment lOr a term not excee mg one year, or to 0 within the period beginning on the day that is two years before the books.
date of the initial bankruptcy event and ending on the date of the bankruptcy, that person conceals, destroys, mutilates, falsifies or disposes of, or is privy to the concealment, destruction, mutilation, falsification or disposition of, any book or record affecting or relating to the person's property or affairs, unless the person had no intent to conceal the state ofthe person's affairs.

b th 'f.
proposal not ,1, keeping proper (2) For the purposes of this section, a debtor shall be deemed not to have kept proper books ofaccount ifhe has not kept 166 such books or accounts as are necessary to exhibit or explain his transactions and financial position in his trade or business, including a book or books containing entries from day to day in sufficient detail of all cash received and cash paid, and, where the trade or business has involved dealings in goods, also accounts ofall goods sold and purchased, and statements ofphysical inventory counts.
298.-{1) Where a creditor, or a person claiming to be a creditor, in any proceedings under this Act, wilfully and with intent to defraud makes any false claim or any proof, declaration or statement of account that is untrue in any material particular, the creditor or person is guilty of an offence punishable on summary conviction and is liable to a fine not exceeding one million dollars, or to imprisonment for a term not exceeding one year, or to both.
(2) Where an inspector accepts from the bankrupt or from any person, finn or corporation acting on behalf ofthe bankrupt or from the trustee any fee, commission or emolument other than or in addition to the regular fees provided for by this Act, the inspector is guilty of an offence punishable on summary conviction and is liable to a fine not exceeding one million dollars, or to imprisonment .

for a term not exceeding one year, or to both.


(3) Where the bankrupt enters intg.,any transaction with any person for'the purpose of obtaining a benefit or advantage to which either ofthem would not be entitled, the bankrupt is guilty of an offence punishable on summary conviction and is liable to a fine not exceeding one million dollars, or'to imprisonment for a term not exceeding one year, or to bo,th., , 1 299.-{1) A person who-.
(a) not being a licensed trustee, does any act as, or represents himselfto be, a licensed trustee; (b) being a trustee, either before providing the bond required by section 247(1) or after providing the bond but at any time knowing the bond is not in force, fails to take steps within a reasonable time to put in place a new bond, acts as or exercises any ofthe powers oftrustee; 167 (c) having been appointed a trustee, with intent to defraud., fails to observe or to comply with any ofthe provisioDS ofthis Act, or fails duly to do, observe or perform an act or duty that he may be ordered to do, observe or perform by the Court pursuant to this Act; (d) having been appointed a trustee, without reasonable excuse, fails to observe or to comply with any of the provisions of this Act, or fails duly to do, observe or perform any act or duty that he may be ordered to do, observe or perform by the Court pursuant to this Act; (e) directly or indirectly solicits or canvasses any person to make an assignment or proposal under this Act, or to petition for a receiving order with intent to defraud; (f) being a trustee, directly or indirectly, solicits proxies to vote at a meeting ofcreditors with intent to defraud; or (g) being a trustee­ (i) makes any arrangement under any circumstances with the bankrupt, or any attorney-at-law, auctioneer or other person employed in conn~on with a bankruptcy, for any gift, remuneration or pecuniary or other consideration or benefit whatever beyond the remuneration payable out of the estate; or (ii) accepts any such consideration or benefit from any such person, or makes any arrangement for giving up, or gives up, any part of his remuneration, either as a receiver or trustee, to the bankrupt or any solicitor, auctioneer or other person employed in connection with the bankruptcy, is guilty ofan offence punishable on summary conviction to a fine not exceeding one million dollars, or to imprisonment for a term not exceeding one year, or to both.
]68 (2) A person who having been appointed a trustee to any estate and another trustee having been appointed in his place, does not deliver to the substituted trustee on demand all un­ administered property ofthe estate, together with the books, records and documents ofthe estate and ofhis administration is guilty ofan offence punishable on summary conviction and is liable to a fme not exceeding one million dollars, or to imprisonment for a term not exceeding one year, or to both.
(3) A person who fails to comply with or contravenes any provision ofsection 226 or 247 is guilty ofan offence punishable on summary conviction and is liable to a fine not exceeding one million dollars, or to imprisonment for a term not exceeding one year, or to both.
(4) Every person who contravenes or fails to comply with an order made under section 304 is guilty ofan­ (a) offence punishable on summary conviction and is liable to a fine not exceeding one million dollars, or to imprisonment for a term not exceeding one year, or to both; or (b) indictable offence and is liable to a fine not exceeding two million dollars, or to imprisonment for a term not exceeding 3 years, or to both such fine and imprisonment.
(5) Nothing in paragraph (1)(h) shall be construed to apply to a sharing oftrustee's fees among persons who together act as trustee ofthe estate ofa bankrupt or as joint trustee to a proposal.

(6) Subject to this Act, every person who contravenes or fails to comply with a provision ofthis Act or ofthe Bankruptcy Rules is guilty ofan offence punishable on summary conviction and is liable to a fine not exceeding one million dollars, or to imprisonment for a term not exceeding one year, or to both.
Removal of property.

300.-(1) Subject to subsection (2), it is an offence to remove or attempt to remove the property or part mentioned in section 103 out ofthe charge or possession ofthe bankrupt, the trustee or other 169 custodian ofthe property, except with the written permission ofthe trustee­ ( a) within thirty days after delivery to the trustee ofthe proof ofclaim mentioned in section 103; or (b) where no proofbas been delivered.
(2) Subsection (1) shall not apply to a trustee who removes or attempts to remove property in the manner stated therein.
(3) Any person who removes or attempts to remove the property or part mentioned in ~tion 103 out ofthe charge or possession of the bankrupt, the trustee or other custodian ofthe property, except with the written permission ofthe trustee­ (a) within thirty days after delivery to the trustee ofthe proof ofclaim mentioned in section 103; or (b) where no proofhas been delivered, is guilty ofan offence and liable on summary conviction to a fine not exceeding two million dollars or to imprisonment for a term not exceeding two years, or to both.
301.

Any trustee who exercises any of the powers or performs l?vaJid trustee any ofthe duties ofa trustee while the trustee's licence has ceased lIcence.
to be valid for failure to pay licence fees, after the trustee's licence has been suspended or cancelled under section 231 or after having been informed pursuant to section 237(5) of the suspension or cancellation of the trustee's licence is guilty of an offence and is liable on summary conviction to a fine not exceeding two million dollars, or to imprisonment for a term not exceeding two years, or to both.

302.
302.

Where the Supervisor bas placed conditions or limitations Trustee acting on the licence ofa trustee and the trustee exercises any ofthe powers GU:!

: of a trustee other than the powers that the trustee is authorized to au exercise, the trustee is guilty ofan offence punishable on summary conviction and is liable to a fine not exceeding one million dollars, or to imprisomnent for a term not exceeding two years, or to both.

ty.

, I Offence committed by corporation.


Court may make order for conununity service.

Variation of order made under section 304.

170 303.
170 303.

Where a corporation commits an offence Wider this Act, any officer, director or agent ofthe corporation, or any person who has or has had, directly or indirectly, control in fact of the corporation, who directed, authorized, assented to, acquiesced in or participated in the commission of the offence is a party to and guilty ofthe offence and is liable on conviction to the punishment provided for the offence, whether or not the corporation has been prosecuted or convicted.
304.. Where a person has been convicted of an offence under this Act, the Court may, having regard to the nature ofthe offence and the circumstances surrounding its commission, and in addition to any other punishment that may be imposed under this Act, make an order directing the person to perfonn community service, subject to sUch reasonable conditions as may be specified in the order.
30S.-{I) Subject to subsection (2), where a Court has made an order under section 304 in respect of a person, the Court may, on application by the person or the Attorney-General, require the person to appear before it and, after hearing the person or the Attorney-General, the Court may vary the order in one or any combination of the following ways that is applicable and that, in the opinion of the Court, is desirable because of a change in the circumstances ofthe person since the order was made­ (a) by making changes in the order or conditions specified therein or extending the period for which the order is to remain in force for such period, not exceeding one year, as the Court considers desirable; or (b) by reducing the period for which the order is to remain in force or relieving the person, either absolutely or partially or for such period as the Court considers desirable, of compliance with any condition that is specified in the order.
(2) Before varying an order under subsection (1), the Court may direct that notice be given to such persons as the Court considers to be interested, and may hear any such persons.

171 (3) Where an application made WIder subsection (1) in respect ofaperson has beenheard by the Court, no application may be made with respect to the person except with leave ofthe Court.
306.-{1) Where a person has been convicted of an offence Cowtmay under this Act and any other person has suffered loss or damage ::d~:der because of the commission of the offence, the Court may, at the damages.
time sentence is imposed, order the person who has been convicted to pay to the person who has suffered loss or damage or to the trustee of the bankrupt an amount by way of satisfaction or compensation for loss of or damage to property suffered by that person as a result of the commission of the offence.
(2) Where an amount that is ordered to be paid under subsection (1) is not paid forthwith, the person in favour ofwhom the order has been made may file the order in Court and that order is enforceable against the person who has been convicted in the same manner as ifit were ajudgment rendered against the person who has been convicted in that Court in civil proceedings.
307.-{1) Whenever a trustee has grounds to believe that- Trustee to report to the (a) an offence under thisAct or under any otherAct ofJamaica Police.
has been committed with respect to any bankrupt estate in connection with which he has been acting under this Act; or (b) that for any special reason an investigation should be had in connection with that estate, it is the duty of the trustee to­ (i) report the matter to the Police, including in the report a statement of all the facts or circumstances of the case within his knowledge, the names of the witnesses who should in his opinion be examined, and a statement respecting the offence or offences believed to have been committed; and (ii) to forward a copy of the report forthwith to the Supervisor.
172 (2) A creditor, inspector or other interested person who believes on reasonable grounds that a person is guilty of an offence under this or any other enactment in connection with a bankrupt, his property or his transactions, may file a report with the Police of the facts on which that belief is based, or he may make such further representations supplementary to the report of the trustee as he may deem proper.
(3) Wheneverthe Court is satisfied on the representation of the Supervisor or trustee or of any creditor, inspector or other interested person, that there is ground to believe that any person is guilty ofanoffence underthis oranyotherActofJamaicain connection with thebankrupt, his propertyor transactions, the Courtmay authorize the trustee to initiate proceedings for the prosecution ofthat person for that offence.

308.
308.

In an information, complaint or indictment for an offence under this Act, it is sufficient to set out the substance ofthe offence charged in the words ofthis Act, specifying the offence or as near thereto as circumstances admit, without alleging or setting out any debt, act of bankruptcy, trading, adjudication or any proceedings in, or order, warrant, or document of, any court acting under this Act.

309.
309.

A prosecution by indictment under this Act shall be commenced within five years from the time ofthe commission of the offence and, in the case ofan offence punishable on summary conviction, the complaint shall be made or the information laid within three years from the time when the subject-matter of the complaint or information arose.

PART XIII.

General Substance of offence sufficient.

Time for c0mmence­ ment ofaction.

Power respecting bankruptcy rules.

310.
For the purpose of carrying into effect the objects of this Act, rules may be made by the same authority and in the same manner as Rules ofCourt may be made under the Judicature (Rules ofCourt) Act and such rules may provide for the regulation of-­ (a) sittings ofthe Court and ajudge ofthe Court in chambers; I 173 (b) the practice and procedure in Court; and (c) any matters relating to the practice and procedure ofthe Court, the duties ofthe officers ofthe Court, and the costs ofor fees upon and percentages to be charged for or in respect of proceedings: Provided that no rules so made shall extend the jurisdiction of the Court.
311.-(1) A copy of the Gazette or local daily newspaper Gazetteor containing any notice inserted in the Gazette or local newspaper in ~c::= to pursuance of this Act shall be evidence of the facts stated in the be evidence notice.

offilets.
offilets.

(2) The production of a copy of the Gazette or local newspaper containing any notice ofa receiving order, an assignment, a proposal, or a receivership shall be conclusive evidence in all legal proceedings ofthe order or declaration having beeri duly made and of its date.
(3) Copies authenticated by the signature ofthe Supervisor or 1rUstee ofany entries in the books kept by them with respect to any estate vested in or administered by the Supervisor or 1rUsteeWlder this Act shall be admissible in evidence in any legal proceeding or for any otherpwpose, and shall have the same effect in evidence in all respects as the originals from which copies were made.
(4) Inall legal proceedings, judicial notice shall be taken ofthe signature ofthe Supervisor and ofthe trustee but any court, Judge or magistrate may require such signature to be proved in the ordinary way if it is doubtful to the Court, Judge or magistrate whether the alleged signature is genuine.

312.

For all or any purposes of this Act­ f' (a) a corporation may act yany 0 Its 0 cers a on m corporations, ~~dand f mdivi ualso unsound mind.

b that behalf Wlder the seal ofthe corporation; uth"zed .
Acts by (b) a firm may act by any ofits members; and ffi " 174 (c) an individual of unsoWld mind may act by his nearest relative.

Vacating of seat in House of Representa­ tives.

313.
313.

Where a bankrupt is a member of the House of Representatives and has no~ before the date which is twelve months after the date ofbankruptcy, obtained from the Court a certificate to the effect that the bankruptcy was caused by misfortune without any misconduct on his part, the trustee shall, immediately after the expiration of the twelve-month period, so advise the same to the Speaker and thereupon the seat ofthe member shall be vacant.

Leave ofthe Court required to pursue cer­ taln actions.

314.
314.

Except by leave of the Co~ no action lies against the Supervisor, an interim receiver or a trustee with respect to any report made Wlder, or any action taken pursuant to, this Act.

Regulations.
Regulations.

315.-(1) The Minister may make regulations generally for giving effect to this Act and notwithstanding the generality ofthe foregoing the regulations may make provision for­ (a) prescribing anything that is authorized or required to bP prescribed by the Act; (b) the imposition of fees and charges to be paid in respect of any matter required for purposes ofthis Act.
(2) Notwithstanding section 29(b) ofthe Interpretation Act, regulations made Wlder subsection (1) may provide in respect of a breach of any of the provisions thereof for the imposition of penalties on summary conviction in a Resident Magistrate's Court of a fine not exceeding one million dollars or imprisonment for a term not exceeding twelve months· or of both such fine and imprisonment 316.
The Minister may, by order­ (a) subject to affirmative resolution, amend or vary any monetary penalties prescribed in this Act; (b) amend any ofthe Schedules to this Act.

Minister may amend monetary penalties and Schedules.

175 317.-{1) This Act shall be reviewed, from time to time, by a Revi~ofAct committee ofboth Houses ofParliament appointed for the purpose.

~Par\18JI1en.

(2) The first review of this Act shall be conducted not CommiItcc.

later than five years after the appointed day.


318.-{1) Subject to the provisions ofthis Act, all bankruptcy Transitional.

proceedings or winding up proceedings commenced before the appointed day shall be determined by laws applicable immediately prior to the appointed day.

(2) In this section "transitional period" means the period oftwenty-four months beginning on the appointed day.
(3) A person who, immediately before the appointed day, was entitled to and was practising as a trustee, shall, within six months after the appointed day, make an application under section 228 to the Supervisor for a licence to operate as a trustee.

319.

The Bankruptcy Act is repealed.

Repeal.

310.

The provisions of the Companies Act specified in the first ~ column ofthe Second Schedule are amended in the manner specified ~OIIIpQIlle, in the second column ofthe Second Schedule.

~ Schedule. )
~ Schedule. )

J 176 (Seaions 3(1 Xa), 30( I), 36(2Xa), 63, 72 and 74(3) Fonn 1 BANKRUPTCY AND INSOLVENCY ACT,.

2013 Assignment for the General Benefit of Creditors (Pursuant to sections 3(1), 30 and 36(2)(a) A.

Corporation or other Legal Entity Whereas the debtor is insolvent and desires to assign and to abandon all his property for distribution among his creditors, in pursuance of the Act.
This indenture made this between day of , hereinafter called "the debtor" «Insert the name ofthe debtor) and ___ _--:-__ _-:--____ hereinafter called "the trustee."

(Insert the name ofthe trustee) WITNESSES that the debtor hereby assigns to the trustee, an the debtor's property for the uses, intents and purposes provided by the Act.

Signed at , in the parish of, _ ___- -J in the presence of _ ___ ___ Witness Date Debtor (or legal representative of the debtor) Notes: 1.
Where the debtor is a corporation, a certified copy of the resolution of the board of directors shall be attached to this document.

2.

Where the debtor is deceased, attach a copy of the court order.

177 B.
177 B.

Natural Person Full Legal Name of debtor (please print) __________ Family Name Given Names (underline name used) Other previous Legal Names or Aliases Full Legal Name of trustee: _ ____ _____ __ Address: occupation: I, being unable to pay my debts as they become due, hereby assign and abandon all my property to the trustee, for the general benefit of my creditors pursuant to the Act.
Signed at,__________, in the Parish of,_____---' in the presence of,__ __ ____--:-_______~-~ (Insert name ofdebtor or legal representative ofthe debtor) Witness Date Debtor (or legal representative of the debtor) J ) 178 Fonn2 BANKRUPTCY AND INSOLVENCY ACT, 2013 Notice ofIntention to Enforce a Security (Pursuant to sections 15(1) and 19) To: _______ _, an insolvent person.
Take notice that: 1. security on the insolvent person's property descn'bed below: , a secured creditor, intends to enforce its (Describe the property to which the security relates.)

2.

The security that is to be enforced is in the fonn of (Provide particulars ofthe security.)

3.

The total amount of indebtedness secured by the security is $ _ - - - ­ 4.
The secured creditor shall not have the right to enforce the security until after the expiry of the ten-day period after this notice is sent, unless the insolvent person consents to an earlier enforcement.

Dated at _~___" this ___" day of ____" 20 __.

Name of Secured Creditor Name and Title of Signing Officer 179 Fonn 3 BANKRUPTCY AND INSOLVENCY ACT, 2013 Notice and Statement of the Receiver (Pursuant to sections 20(2) (a) and 21) The receiver gives notice and declares that: _ I.
On the day of the receiver in respect of the property of bankrupt, that is described below: , __, I ________ ,' became , an insolvent person' (Provide an appropriate description of the property including the book value of each asset and broken down into the categories of inventory, accounts receivable and other assets.).

2.
2.

I became a receiver by having taken possession or control of the property described above or by virtue of being appointed by __ ___ _______________ pursuant to (name ofperson or courl that appointed recei~'er) (particulars of security agreement or court order pursuant 10 which receiver was appointed).

3.

The undersigned took possession or control of the property described above on the __ day of , ___.

4.
The following infonnation relates to the receivership: (a) address of insolvent personlbankrupt; (b) principal line of business; (c) location(s) of business; (d) amount owed by insolvent personlbankrupt to each creditor who holds a security on the property described above; (e) the list of other creditors of the insolvent personlbankrupt and the amount owed to each creditor and the total amount due by the insolvent personlbankrupt is as follows; 180 Note: (Provide name, telephone number and, ifIIPPlicable, facsimile machine n~).
This notice sball be accompanied by the fee of $____, Dated at _ __~, this ___~.

day of'--__-' ___' NQllfe of Recewer NQllfe and ntle ofSigning Officer I I 181 Fonn4 BANKRUPTCY AND INSOLVENCY ACT, 2013 Notice to Debtor (Pursuant to section 22) To (Name and address of debtor): You are required to complete this fonn carefully and accurately, answering the questions to the best of your knowledge.

I.
I.

Give the names, addresses and amounts of the claims of all your creditors and all your assets ofevery description and state whether such claims are secured, preferred or unsecured.

Name Address Property Claims Amount of Claims $ Nature of Claim Name Address Trust Claims Amount of Claims $ Nature of Claim Secured Creditors Name Address Amount of Claims $ Particular of Security held .'
182 Preferred Creditors Name Address Amount of Claims S Nature of Claim Unsecured Creditors Name Address AmoWlt of Claims $ 2.

What is the estimated value of your property?

(a) Stock-in-trade ............................................................... $ ___ (b) Trade fixtures............................................................... $ ___ (c) Book debts,' bills of exchange, promissorynotes, etc.
S ___ (d) Cash in Bankof.......................................................... ' $ ___ (e) Cashonhand.............................................................. $ ___ (f) Livestock.,...................................................................

$ ___ (g) Machinery and equipment ..... ;..... ......................... S ___ (b) ReaJ property.............................................................. $ ___ (i) Financial Instruments {includes RRSPs, securities, life insurance policies, etc.)
.................... :..................... $ ___ (j) Other property (vehicles, jewellery, etc.)..................

$ ___ 3.

Have you an interest in any other property?

(a) Jointly ot in common with any person or persons?

(b) Under any will?

(c) Under any marriage contract or settlement?

:1 !

183 I, of , of the in the Parish of , do swear (or solemnly declare) that the above statemenf is to my knowledge a full.

true and complete statement of my affairs on this __ day of .
• • and fully disclQse all property of every description that is in my possession or ~ may devolve on me in accordance with section 29 of the Bankruptcy and Insolvency Act.

SWORN (or SOLEMNLY DECLARED) by (name 0/ debtor) __~______ the ~ day of at _____ - ________ • 20_.

in the parish of -.-,_ _ ________ this ___ day of ____ __, _____ before me: Justice 01 the Peace lor the parish 01 __________ Debtor 184 Form 5 BANKRUPTCY AND INSOLVENCY ACT.
2013 Trustees' Report on Cash-jlow Statement (Pursuant to sections 35(J)(c) and 50) The attached statement of projected cash-flow of as (name a/insolvent person).

of the _ day of , consisting of'--__ ___ ____ (describe, including relevant dates), has been prepared by the management of the insolvent person for the pmpose described in Note"An, using the probable and hypothetical asswnptions set out in Notes "B".
Our review consisted ofinquiries, analytical procedures and discussion related to information supplied to us by the management and employees ofthe insolvent person.

Since hypothetical asswnptions need not be supported, our procedures with respect to them were limited to evaluating whether they were consistent with the purpose of the projection.

We have also reviewed the support provided by management for the probable asswnptions and the preparation and presentation of the projection.
Based on our review, nothing has come to our attention that causes us to believe that, in all material respects­ (a) the hypothetical asswnptions are not consistent with the pmpose of the projection; (b) as at the date of this report, the probable asswnptions developed by management are not suitably supported and consistent with the plans of the insolvent person or do not provide a reasonable basis for the projection.
given the hypothetical asswnptions; or (c) the projection does not reflect the probable and hypothetical asswnptions.

Since the projection is based on asswnptions regarding future events.

actual results will vary from the information presented even if the hypothetical asswnptions occur, and the variations may be material.

Accordingly.

we express no assurance as to whether the projection will be achieved.
The projection has been prepared solely for the purpose described in Note • and readers are cautioned·that it may not be "C" appropriate for other purposes~ .

I attach Notes "A", "8" and "C".

Dated at _---', this _ day of ___---', 20__ 7'nIslee Iii ----~-~------ ... ~-..-~ ~--- -~--------~ 186 Fonn 6 8ANKRUPTCY AND INSOLVENCY AC'i: 2013 Report on Cash-flow Statement by the Person Mci};"g the Proposal (Pursuant to sections 35(J)(c) and 51) The (management, receiver, liquidator.
etc.,) of _____ ___ has developed the assumptions and prepared the attached projected statement of cash-flow of the insolvent person, as of the __ day of __ __ _, ____, consisting of _____ (Describe, including relevant dates).

The hypothetical assumptions are reasonable and consist::!

'1t with the purpose ofthe projection described in Note "A" and the probable assmr:i1!ptions are suitably supported and consistent with the plans of the insolvent peh'Son and provide a reasonable basis for the projection.
All such assumptions are disclosed in Notes "8", Since the projection is based on assumptions regarding ft~ture events, actual results will vary from the infonnation presented, and the variations may be material.

The projection has been prepared solely for the purpose described in Note "C", using a set of probable and hypothetical assumptions S~1t out in Notes "8".

purposes.

Dated at _____-', this ___day of ___~_, 20__.


Name of Person Making the Proposal Name and Title of Signing Officer Name and Title of Signing Officer 187 Fonn 7 BANKRUPTCY AND INSOLVENCY ACT, 2013 l f· .

, .. Report of Trustee on NonjiJing uj Cash-flow Statement or Proposal (pursuant to section 36(2) (a)) I, ::ttention to make a proposal filed i~ hereby report to the official receiv¢l'; as follows: , of _-:-____ _' the trustee under a notice of , an insolvent person, 1.
That the insolvent person did, on the __ day of __ _-', file with the official receiver a notice of mtelfl1tion to make a proposal.

2.

That: (Check appropriate descriptio:tJ.)

o a projected cash-flow statement was not filed within the period often days after the filing of the notice of intention.
o a proposal was not filed within the period of thirty days after the day on which the notice of hlltc111tion was filed or within any extension of that period granted by the court under section 36 of the Bankruptcy and Insolvency Act.

(If an extension oftime has been granted by the coW't, attach a copy ofthe court order.)

Dated at ___ _ this__.Iay of _____ 20__, .

, Trustee i.
, Trustee i.

188 Fonn 8 BANKRUPTCY AND INSOLVENCY ACf, 2013 Notice by Trustee Requiring Filing of Proof of Security (Pursuant to sections 42, 164 and 171) Take notice that: 1.

You are hereby required.

pursuantto sections 42 and 164 ofthe Ban1auptcy and Insolvency Act, to tile with me a proof of claim and proof of security (security documents) relating to any security that you hold on the property of __ _ ____" a bankrupt.

which property is described below: (Describe the property.)

2.
2.

The proof of claim and proof of security must give fuJI particulars of the security, including the date on which it was given and the value at which you assess it.

3.

Ifyou do not tile with me a proof ofclaim and proof ofsecurity in respect ofthe property, within the thirty days after the day on which this notice is served I may.

with leave of the court.

sell or dispose of the property.

free of your security.

4.

A proof of claim in the required fo~ is attached.


Dated at __ __ this__day of _ __---.J.

20___, Trustee 189 FORM 9 BANKRUPTCY AND INSOLVENCY ACT, 2013 Statement ofAffairs (BlISinus Bankruptcy) (pursuant to section 45) To (name and address ofthe bankrupt): You are required to carefully and accurately complete this fonn and the applicable attachments, showing the state of your affairs on the date of your .
When completed, this banlauptcy:- namely on the __day of Fonn and the applicable attached lists will constitute your Statement ofAffiUrs and shall be verified by oath or solemn declaration.

UABIUTIES (as stated and estimated by bankrupt) ASSEI'S (as stated and estimated by bankrupt) I.

Unsecured creditors as per list "'A" ..... $ _ I.

Inventory ...........•...•.

$ __ 2.

Secured creditors as per list "'B" .......• $ __ 2.

Trade fixtures.

etc..... $ __ 3.


Preferred creditors as per list "C" ...... $ __ 3.

Accounts receivable and other receivables as per List "'E"­ 4.

Contingent.

trust claims or other liabilities as per list "'0" estimated to be reclaimable for .........................•.............•........... $ _ __ Total liabilities ................................. $ ___ Oood .......................... $ Doubtful .................... $:_ __ Bad .............................
$,.,--_ Estimated to produce .. $ __ Surplus ............................................ $ ___ 4.

Bills ofexchange, promissory I, _____ , ofthe_____ of _____ in the Parish of ___ do swear (or solemnly declare) that this statement and the attached lists are to the best ofmy knowledge a full.
true and complete statement of my atTairs on the __ day of -::-_--:-_-:- and fully disclose all property of every description that is in my poSsession or that may devolve on me in accordance with Bankruptcy and the Insolvency Act.

SWORN (or SOLEMNLY DECLARED) note.

etc., as per List "'P' .. $ _ S. Deposits in Financial .Institutions .......... $ _ __ 6. cash .................... $ __ 7.

Livestock ............ $ ___ 8.

Machinery.

Equipment and Plant ................... $ _ __ 9.


Real property as per List ..0" .........................<$ ___ this__ dayof at'--___ ___ .20_ __ 10.

Furniture ........

;.

:$ ___ 190 in the Parish of.__ _ __ refu~me:.____________ Justice ofthe Peace for the parish of (Signatu~of bankrupt) II.

RRSPs, ~Fs, Life Insurance, etc............................. $ ___ 12.

Securities (Shares, Bonds, Derentures,e4';.)

............ $_ 13.
............ $_ 13.

Interest un4er Wills... $ i - ­ 14.Vehicles ..... \ ............... $ __ IS.Other propeftY, as per List"W ...... , .............. $ !
Ifbankrupt is a ¢orporation, add: Amount of sUbS<\rired Capital ............. +........... $ __ Amount paid on ~ital.. $ __ Balance subscri~ and Unpaid ................ \ .......... $ I - ­ Estimated td prod~ce ..... $ Total assets .......... , ......... $ Deficiency ............. L....... $ __ ( -10 List "A" Unsecured Creditors The names are to be arranged in alphabetical order and numbered consecutively.

No.

Name ofcreditor Address Amount ofClaim Bankrupt Date List "B" Secured Creditors No.
Name of creditor Address Amount of Particulars of Claim Security When ,;ven Estimated value of security ' - -L Estimated surplus from security Balanceofclaim unsecured Bankrupt Date ~ ... '.

List "C" PlY/erred Creditors for Wages, Rent, etc.

.

No.

Name ofc:n::ditor Address and OGeupation Nature of Claim Period during which claim accrued Amount of !Amount payable claim in full Difference ranking in full -~ , .
Bankrupt --~.- ... -.~-.- .. ­ _ ... _-_.. ... ­_ Date List "D" Contingent or Other Liabilities Give particulars ofclaims not set out in List uRn or "C".

IName ofcreditor or claimant Address and occupation Amount of liability orClaim Amount expected to rank for dividend Date when liability incurred Nature of liability Bankrupt Date -'g.

~ "" List "E" Debts Due to the Bankrupt No.


Name of Address and Nature of creditor occupation debt Amount of debt (good, doubtful, bad) Folio ofledgers or other book where particulars to be found When contracted Estimated to produce Particulars of any securities held for debt \() - V\ Bankrupt Date Bills ofExchange, Promissory Notes, Lien Notes, Chattel Mortgages, etc., Available as Assets List "F" No.
Name ofall promissory, acceptors, endorsers, mortgagors and guarantors Address Occupations Amount of bill or note, etc.

Date when due Estimated to produce Particulars of any property held as security for payment ofbill or note, etc.

~ Bankrupt Date List "G" Real Property Owned by Bankrupt Description of property Nature of bankrupt's interest In whose name does title stand Total value Particulars ofmortgages, hypothecs, or other encumbrances (Name, Address, Amount) Equity or surplus - 10 .....
Bankrupt Date.

List "H" Property Give foil particulars of property ofevery description that is in the bankrupt So or that may be devolve on the bankrupt in accordance with the Bankruptcy and Insolvency Act and that are not included in any other list.

FULL STATEMENTOF PROPERTY Nature of Property Location Details of property Original cost Estimated to produce a) Stock-in-trade (b) Trade fixtures, etc.
(c) Cash in Financial Institution name) (address) (d) Cash on hand (e) Livestock f) Machinery, equipment and plant (g) Furniture (h) Life insurance policies, RRSPs etc.

(i) Securities (j) Interests under wills, etc.
k)Vehicles I) Taxes (m) Other property (state particulars) - _ ......­ Bankrupt i : , ~ 199 Fonn 10 BANKRUPTCYAND INSOLVENCYACT, 2013 ProofofClaims (Pursuant to sections 44, 45(2)(e)(i), 56, 103, 105(1) and /58(2) (All notices or correspondence regarding this claim must be forwarded to the following address: _______________ _____ In the matter of the bankruptcy proposal, or receivership of -:--_--:'~-of (name ofdebtor) (city and parish) and the claim _________.
(creditor) ~ of (name ofcreditor or representative ofthe creditor) do hereby certify that: __________ __ (city and parish) 1.

That I am a creditor ofthe above-named debtor (or that I am __ ___ ______of _ ___ __ ___ __ (state position or title) (name ofcreditor) 2 That I have knowledge ofall the circumstances connected with the claim referred to below.

3.

That the debtor was, at the date of bankruptcy (or the date of the receivership, or ,."
the case ofa proposal, the date ofthe notice of intention or of the proposal, if no notice of intention was jiled), namely tbe ____day , and still is, indebted to the creditor in the sum of of , as specified in the statement of account (or affidavit or solemn $ declaration) attached and marked "A", after deducting any counterclaims to which the debtor is entitled.

• (The attached statement of account or affidavit must specifY the vouchers or other evidence in support ofthe claim.)

4.
4.

(Check and complete appropriate category.)

[J A.

UNSECURED CLAIM OF $__ __ That in respect of this debt, I do not hold any assets of the debtor as security and (Check appropriate descripUon.)

[J Regarding the amount of $_ __ __" I do not claim a right to a priority.

[J Regarding the amount of $____--', I claim a right to a priority under section 126 ofthe Act.

200 (Set out on an attached sheet details to support priority claim).

DB.
DB.

CLAIMOFLANDLORDFORDISCLAlMEROFALEASES___ That I hereby make a claim under Bankruptcy and Insolvency Act, particulars of which are as follows: (Give full particulars ofthe claim, including the calculations upon which the claim is based).

o C. SECURED CLAIM OF $______ That in respect of this debt, I hold assets of the debtor valued at ~ ________ as security, particulars of which are as follows: (Give full particulars ofthe security.
including the date on which the security was given and the value at which you assess the security.

and attach a copy of the security documents.)

o D.CLAIMBYFARMER,FISHERMANORAQUACULTURlSTOF$ That I hereby make a claim under Bankruptcy and Insolvency Act for the unpaid amount ofs ___________ (Attach a copy ofsales agreement and delivery receipts.)

o E.CLAIMAGAINSTDIRECTORS______ (To be completed when a proposal prOVidesfor the compromise ofclaims against directors).
That I hereby make a claim under the Act, particulars of which are as follows: (Give full particulars ofthe claim, including the calculations upon which the claim is based) 5.

That, to the best ofmy knowledge, I am (or the above-named creditor is) (or am not or is not) related to the debtor within the meaning ofsection 2 ofthe bankruptcy and Insolvency Act.

6.
6.

That the following are the payments that I have received from, and the credits that I have allowed to, the debtor within the three months (or, if the creditor and the debtor are related within the meaning of section 2 of the Bankruptcy and Insolvency Act, within the twelve months) immediately before the date of the initial bankruptcy event within the meaning of the Bankruptcy and Insolvency Act: (Provide details ofpayments and credits.)
201 (Applicable only in the case ofthe bankruptcy ofan individual.)

o o o I request to be advised ofany material change in the fmancial situation of the bankrupt.

pursuant to the Bankruptcy and the Insolvency Act.

I request to be advised ofany amendment made regarding the amount that the bankrupt is required to pay.

pursuant to the Bankruptcy and Insolvency Act.


I request that a copy of the report filed by the trustee regarding the bankrupt's application for discharge pursuant to the Bankruptcy and Insolvency Act be sent to the above address.

Dated at • this __• day of.___ _---' Witness Creditor Phone Number: _________ Fax Number: _ _____ ___ E-maiIAddress: _________ NOTE: Ifan affidavit is attached.

it must have been made before a person qualified to take affidavits.
WARNINGS: A trustee may, pursuant to Bankruptcy and Insolvency Act, redeem a security on payment to the secured creditor of the debt or the value of the security as assessed, in a proof of security.

by the secured creditor.

The Bankruptcy and the Insolvency Act provides severe penalties for making any false claim, proof: declaration or statement ofaccount.
I \ 202 Fonn II BANKRUPTCYANDINSOLVENCYACf,2013 ProofofClaims Unsecured and Secured Claim (Pursuant to sections 45, 56 and 164) (All notices or correspondence regarding this claim must be forwarded to the following address: __________ ____ ___ __ ~ (name ofcreditor or representative ofthe creditor) d~__________~_ (city andparish) do hereby certify that: In the matter of the bankruptcy.

proposal, or receivership of ____C""'":"-:--_of (name ofdebtor) of and the claim (city and parish) , creditor.

1.
1.

That I am a creditor ofthe abovenamed debtor (or that I am) __________________ of _____________ (state position or title) (name ofcreditor) 2.

That I have knowledge of all the circumstances connected with the claim referred to below.

3.
3.

That the debtor was, at the date ofbankruptcy, namely the day ' - - ' and still is, indebted to the creditor of in the sum of $ , as specified in the statement of account (or affidavit) attached and marked "A", after deducting any counterclaims to which the debtor is entitled.

(The attached statement ofaccount or affidavit must specify the vouchers or other evidence in support ofthe claim.)

4.

(Check and complete appropriate category.)

o A.


UNSECURED CLAIM OF $_ ___ Other than as a customer contemplated by the Bankruptcy andInsolvency Act.

That in respect of this debt.

I do not hold any assets of the debtor as security and (Check appropriate description.)

203 o Regarding the amount ofS ____--', I do not claim a right to a priority.

o Regarding the amount of$ , I claim a right to a priority under section 126 of the Bankruptcy and Insolvency Act.
(Set out on an attached sheet details to support priority claim).

o B. SECUREDCLAIMOF$_____ That inrespectofthis debt, Ihold a<>set:s ofthe debtorvalued at $._____....;as security, particulars ofwhich are as follows: (Give foil particulars ofthe security, including the date on which the security was given and the value at which you assess the security, and attach a copy of the security documents.)
S. That, to the best of my knowledge, I am (or the above-named creditor is) (or am not or is not) related to the debtor within the meaning ofsection 2 of the Bankruptcy and Insolvency Act.

6.
6.

That the following are the payments that I have received from, and the credits that I have allowed to, the debtor within the three months (or, ifthe creditor and the debtor are related within the meaning ofsection 2 ofthe Bankruptcy andInsolvency Act, within the twelve months) immediately before the date ofthe initial bankruptcy event within the meaning ofsection 2 ofthe Bankruptcy and Insolvency Act: (Provide details ofpayments and credits.)
(Applicable only where the securities firm is an individual.)

o I request to be advised ofany material change in the financial situation of the bankrupt, pursuant to the Bankruptcy and Insolvency Act.

o I request to be advised ofany amendment made regarding the amount that the bankrupt is required to pay, pursuant to the Bankruptcy and Insolvency Act.
o I request that a copy of the report filed by the trustee regarding the bankrupt's application for discharge pursuant to the Bankruptcy and Insolvency Act be sent to the above address.

Dated at , this __, day of ___ __...) Witness Creditor I 204 Phone Number: __ _ ___ ____ Fax Number: __________ E-mail Address: NOTE: If an affidavit is attached, it must have been made before a person qualified to take affidavits.
WARNINGS: A trustee may, pursuant to the Bankruptcy and Insolvency Act, redeem a security on payment to the secured creditor of the debt or the value ofthe security as assessed, in a proof of security, by the secured creditor.

Section of the Insolvency Act provides severe penalties for making any false claim, proof, declaration or statement of account.
205 Fonnl2 BANKRUPTCYAND INSOLVENCYACT,2013 Proxy (pursuant to sections 45 and 126) I, of , a creditor in the above (name a/creditor) (name a/town or city) , matter bereby appoint to be my proxy in the above matter, except as to the receipt ofdividends, with or without power to appoint another proxy in bis place.

, of Dated at , this day of 20_ _.


Witness Individual Creditor Name ofCorporate Creditor Witness Name and Title ofSigning Officer 'I ~ 206 Form 13 BANKRUPTCYAND INSOLVENCYACT, 2013 Report ofTrustee on Refusal by Creditors to Approve Proposal (Pursuant to sectioris 63 and 72) I. acting in the proposal of receiver as follows: 1.

That file a proposal with me.


o f , the trustee , hereby report to the official did, on tbe __ day of__ 2 That at the meeting ofcreditors held on tbe__day of and presided over by , the creditors refused the proposal.

Dated at , this_day of 20__.


Trustee 207 Fonn 14 BANKRUPTCYAND INSOLVENCYACT, 2013 Report of Trustee on Proposal (Pursuant to sections 68 and 69) I, __ ___ _--', of._________ the trustee acting in the proposal of , hereby report to the Court as follows: (Paragraph 1 is to be used only in the case ofa proposal by a bankrupt.

In all other cases, go directly to paragraph 2.)

I.
I.

That on the __day of , the debtor did make the_ _day an assignment (or a receiving order was, on of , made against the above-named debtor) and that I was appointed trustee ofthe estate ofthe debtor (or, ifa substitute trustee trustee has been appointed, day for of__.

I was substituted as by the creditors) on the 2.


That a proposal was filed with me on the day of_ _ a copy ofwhich is attached and marked as Exhibit "A", and that I filed a copy ofthe proposal with the official receiver on the __day ofc-_ __ __ day of 3.
That on the I gave notice to the debtor, to the Parish Office and to every known creditor affected by the proposal, whose names and addresses are shown in Exhibit "B" to this report, of the calling of a meeting of creditors to be held on the day of to consider the proposal.

4.
4.

That with the notice was included a condensed statement ofthe assets and liabilities of the debtor, a list of the creditors affected by the proposal who have claims of$ or more and showing the amounts oftheir claims, a copy of the proposal, a form of proof of claim and proxy in blank and a voting letter.

Copies of the notice, the condensed statement and the list of creditors are attached and marked as Exhibits "Cl", "C2" and "C3", respectively.

5.
5.

That prior to the meeting of creditors I made a detailed and careful inquiry into the liabilities of the debtor, the debtor's assets and their value, the debtor's conduct and the causes of the debtor's insolvency.

208 6.

That the meeting of creditors was held on the __ day of___ and was presided over by ____ 7.

That the proposal was accepted by the required majority of creditors at the meeting and as so (or the proposal was amended by amended was accepted by the required majority ofcreditors).

8.
8.

That a copy of the minutes of the meeting is attached and marked as Exhibit "D".

9.

That I am of the opinion that: (a) the assets ofthe debtor and their fair realizable value are as follows: (Set out assets in detail, giving for each its value as carried on the books of the debtor and its realizable value as estimated by you.)
(b) the liabilities ofthe debtor are as follows: (Set out the liabilities, state whether secured, preferred or unsecured, and point out any discrepancies between the liabilities as declared by the debtor and as subsequently proved and admitted by you.)

10.

ThatI am also ofthe opinion that: (a) the causes of the insolvency of the debtor are as follows: (Set out fully the causes of the insolvency of the debtor as you have, on careful inquiry, ascertained them to be.)
(b) the conduct of the debtor is subject to censure in the following respects: (Set out the reasons for this opinion, considering the conduct of the debtor both before and after thefiling ofthe proposal.)

(c) the following facts, mentioned in section of the Bankruptcy and Insolvency Act, may be proved against the debtor: (Set out the relevant facts mentioned in the Bankruptcy and Insolvency Act.)

11.
11.

That I am further of the opinion that the debtor's proposal is an advantageous one for the creditors (or is not an advantageous one for the creditors), for the following reasons: (Set out folly the reasons for y~ur opinion.)

209 12.

That I forwarded a copy of this report to the official receiver on this day.

Dated at - - - ' this day Trustee ) \, 210 FonnlS BANKRUPTCYAND INSOLVENCYACT, 2013 Report ofTrustee on Annulment ofProposal (Pursuant to section 74) I. proposal of_.
hereby report to the official receiver as follows: of the trustee acting in the 1.

That proposal with me.

and that the of in Bankruptcy.

by order dated the __day of annulled the proposal.

did.

on the _ _day of__ __ __'.

file a (parish) , has 2 The proposal was annulled by the court on the application • the trustee of the proposal (or a creditor of the debtor).

of 3.

The proposal was annulled on the grounds that (Check appropriate grounds.)
D D D D the debtor has defaulted in the performance of a provision in the proposal.

the proposal could not continue without injustice or undue delay.

the approval of the court was obtained by fraud.

the debtor was convicted of an offence under the Act.

(Specify:________________---» 4.

As a consequence of the annulment of the proposal.

the debtor is deemed on the annulment to have made an assignment pursuant to the Bankruptcy and Insolvency Act.

5.
5.

The court further ordered that the property be vested in _ ___.

- J the trustee.

(In the case of a proposal by a bankrupt.

the previous paragraph is to be replaced by the fol/owing:) 211 6.

The court further ordered that the property vested in the bankrupt by , the the order approving the proposal, be revested in trustee.

Dated _' ______ , this ___day of__ __ __,20 .


Trustee 1'1 --~.... - -.... -~-.-.~-~.~-~.. ------------.~--- 212 Form 16 BANKRUPTCYAND INSOLVENCYACT, 2013 Certificate ofFull Performance ofProposal (Pursuant to section 78) The undersigned ____________ trustee acting in the proposal certifies that the proposal, as filed with the official receiver on the ___day of amended on the day of the day of___-' , (and as ,~ has been fully performed as of Dated at'--____" this __day of_____...:>.
Trustee 213 Fonn 17 BANKRUPTCYAND INSOLVENCYACT, 2013 Requestfor Mediation Made by Trustee (Pursuant to section 83) I, trustee ofthe estate of , bankrupt, who made an assignment (or against whom a receiving order was made) on the __day of _____-', hereby apply to the official receiver to refer to this matter to the mediator, who shall set the time and place for the mediation.
This application for mediation is being made for the following reasons: (Check appropriate description) D D D D D There is disagreement as to the amount of surplus income to be paid by the bankrupt.

There is a written request from (creditor:S- address), to proceed with the meditation process.

, a creditor, _____ The bankrupt does not agree with the discharge recommendation of the trustee.
The trustee is opposed to the discharge of the bankrupt on a ground referred to in section 173(1) (m) or(n) ofthe Act.

a creditor, (creditor:S address), is opposed to the discharge of the bankrupt on a ground referred to in the Bankruptcy and Insolvency Act.

An income and expense statement of the bankrupt is attached to this request.
(Indicate name, address, phone numbers ofall parties) I ' I, 214 Fonn 18 BANKRUPTCYAND INSOLVENCYACT, 2013 Demand/or Repossession o/Goods (Pursuant to section /04) To:_________ , purchaser (or trustee or receiver) Whereas the purchaser is bankrupt (or there is a receiver within the meaning ofsection ofthe Insolvency Act, appointed in respect ofthe purchaser's property) the trustee (or receiver) is required to release the goods described above in accordance with section of the Bankruptcy and Insolvency Act.
I, , of (address), (or as__ of--» supplier, hereby demand access to and repossession of the , the purchaser, goods described below, which were sold and delivered to on the dates and in accordance with the terms set out in the attached documents: (Attach copies 0/documents 0/sale (invoice, delivery slip.

etc.)

andprovide an appropriate description o/the goods.)
Dated at._____~_, this__day of___2.0__, Telephone Number: __ __ __ FaxNumber: E-mail Address: -------­ Supplier 215 Fonn19 BANKRUPTCYAND INSOLVENCYACT, 2013 Notice a/Bankruptcy and First Meeting a/Creditors (Pursuant to sections 126(6) and 190) / Take notice that: I.
(name a/bankrupt) filed (or was deemed to have filed) an assignment (or a receiving order was made against) on the_day of_____ ,andthe undersigned, __ __ ___ __ ____ (name a/bankrupt) was appointed as trustee ofthe estate ofthe bankrupt by the official receiver (or the court), subject to affirmation by the creditors ofthe trustee's appointment or substitution of another trustee by the creditors.

(name a/trustee), 2.


The first meeting ofcreditors ofthe bankrupt will be held on the , at __o'clock, at the office of ,at ___ of day 3.

To be entitled to vote at the meeting, a creditor must lodge with the trustee, before the meeting, a proof ofclaim and, where necessary, a proxy.

4.

Enclosed with this notice is a form ofproofofclaim, a form ofproxy, and a list of creditors with claims amounting to twenty-five dollars or more, showing the amounts oftheir claims.

5.
5.

Creditors must prove their claims against the estate of the bankrupt in order to share in any distribution of the proceeds realized from the estate.

(Where the bankrupt is an individual, include paragraph 6.)

6.

Included pursuant to section of the Insolvency Act, is information concerning the fmandal situation of the bankrupt and the obligation of the bankrupt to make payments to the estate ofthe bankrupt, as required under section of the Insolvency Act.
Dated at·______-', this__day of.___--' Trustee 216 Form 20 BANKRUPTCYAND INSOLVENCYACf,2013 1hlstee y Statement ofReceipts and Disbursements Summary Administration (Pursuant to section 187(2)) RECEIPTS: Itemize the Receipts Total Receipts: .................................................................. $ ______ Less payments made to secured creditors: ....................... $ ______ Less necessary disbursements relating directly to realization (IdentifY separately the costs pertaining to all assets) .... $ __ _ ___ NET RECEIPTSAVAILABLE TO TIlE ESTATE: ............... $ __ __~ Disbursements: 1.
Counselling fees: ......................................................... $ _ ___ __ 2.

Feespaid: (a) to official receiver ............................................ $ __ __ __ (b) to the Court (where applicable) ...................... $ _____ 3.

Administrative disbursement: .................................. ; ... $ __ _ ___ 4.
Trustee's fees: 100%of $___ 35%of $ 50%of $___ ............................................... $ - - - - ­ ............................................... $ ............................................... $ - - - - - ­ Total: ............................................... $ - - - - ­ 5.
Applicable Taxes: ..............1.. ......................................... $ __ _ ___ TOTAL DISBURSEMENTS: ..~.......................................... $ _____ Amount available for distribu~ion: .................. ; ................. $ __ _ ___ ProvedClaims: ...................... +.........................................$ _____ Dividend: ............................... ; .......................................... $ _~____ 217 Supervisor of Insolvency's Levy: .................................... $ ______ Total Dividend and Levy .................................................. $ _ ___ __ Status of Bankrupt's Discharge: (Give the description and value ofall property ofthe bankrupt (whether or not secured) as shown in the statement of affairs or otherwise known and not accountedfor in the receipts, stating why the property has not been sold or realized and stating the disposition made) Date Trustee Approved by the following inspectors: I.
218 Fonn21 BANKRUPTCY ANDlNSOLVENCY ACT, 2013 ' Notice ofFinal Dividend and Applicationfor Discharge of Trustee (Pursuant to section 187(5) Take notice that: I.

A final dividend sheet has been prepared.

There is enclosed with this fonn a copy of the dividend sheet and a copy of my final statement of receipts and disbursements as taxed.

2 The final dividend will be paid after the expiration offifteen days following the date ofthe mailing ofthis notice.

3.
3.

Notice ofobjection ofthe fmal statement and dividend sheet must be filed , and with the registrar, at a copy of the notice served on the undersigned.

The notice must state the reasons for the objection.

before the __day of 4.

I will apply to the court on the __ day of the hour of___'clock, or so soon thereafter as the motion can be heard, for an order of discharge with respect to the above-mentioned estate and for a release of the security provided by me pursuant to section 201 of the Insolvency Act.
, at 5.

Notice ofobjection to my discharge, setting out the reasons for opposition, must be filed with the registrar, at , at least five days before the date of the hearing, and a copy of the notice must be served on me within those five days.
Dated at'--_____" this __day of__ ___ ___ Trustee 219 Fonn22 BANKRUPTCYAND INSOLVENCYACT,2013 Notice ofImpending Automatic Discharge ofFirst-time Bankrupt (Pursuant to section 190) To: (Name and Address) Take notice that: I. an assignment (or a) receiving order was made against bankrupt) on the _______ (name oftrustee) was appointed as trustee.

(name ofbankrupt) filed (or was deemed to have filed) (name of ,and the undersigned, day of 2.
Pursuantto section ofthe Insolvency Act, the bankrupt, being an individual who has never before been bankrupt, will be given an automatic discharge on the (insert the date that is nine months qfter the date ofbankruptcy.

), unless the Supervisor of Insolvency, the trustee ofthe estate ofthe bankrupt or a creditor ofthe bankrupt gives notice ofintended opposition to the discharge of the bankrupt before that date.

day of 3.
day of 3.

Any creditor who intends to oppose the discharge of the bankrupt shall give notice of the intended opposition, stating the grounds for the opposition, to the trustee of the estate ofthe bankrupt, the bankrupt, and the Parish Office, before the (insert the same date as in item 2).

day of 4.

Where any creditor opposes the discharge of the bankrupt, a court fee applies.

5.
5.

Where the discharge ofthe bankrupt is opposed, the trustee will apply to the court without delay for an appointment for the hearing ofthe opposition in the manner prescribed by the Act, unless it is a matter to be dealt with by mediation pursuant to section of the Insolvency Act.

Dated at , this__day of,__ _ _---' ___ Trustee 220 SECOND SCHEDULE (Section 3 18) Amendments o/the Companies Act Amendment 1.
Delete all references to "Trustee in Bankruptcy" and "Trustee" and substitute therefor the words, in each case, "Govenunent Trustee".

2 Delete paragraph (d).

3.

Delete the words "Trustee in Bankruptcy" wherever they appear and substitute therefor, in each case, the words "Government Trustee".

Delete the paragraph.

Delete the section.

Delete the paragraph.

Delete the paragraph.

Delete the section.


Delete the word "liquidator" wherever it appears and substitute therefor, in each case, the word "trustee".
Provision General Section 220(d) Section 221 Section 222(c) Section 272(c) Section 282 Sections 299 \ , r I 221 MEMORANDUM OF OBJECTSAND REASONS Recommendations made in the March 2012 Final Report of the Insolvency Review Committee ("the Committee"), emphasized the need for creating an enabling legal and regulatory environment for the implementation ofinsolvency laws.
The Report highlighted that the Jamaican law on bankruptcy and insolvency is currently contained in two pieces of legislation: the Bankruptcy Act which covers personal and individual insolvency, and the Companies Act which contains provisions which deal with the winding-up of insolvent corporate bodies.

After much consultation, it was agreed that the need for reform was clear.
The objects ofthis Bill are to­ (a) consolidate the law relating to bankruptcy, insolvency, receiverships, provisional supervision and winding up; (b) provide for corporate and individual insolvency; (c) provide for the rehabilitation ofan insolvent debtor; (d) repeal the Bankruptcy Act; and (e) provide for matters connected with, or incidental to, the foregoing, including the amendment ofthe Companies Act.

ANTHONY HYLTON Minister of Industry, Investment and Commerce.

{" ~ !

: '1.

;.1 • II " ,..

I '\.


<~--.- .. ~ , ': ABILL ENTlTI.ED AN ACT to Repeal the Bankruptcy Act and make new provisions for the regulation of bankruptcy and insolvency; to make provisions for corporate and individual insolvency; the rehabilitation of the insolvent debtor; to create the office of Supervisor of Insolvency; and for connected matters.

to provide for As introduced by the Honourable Minister of Industry•.

Investment and Commerce.


I PRINTED BY JAMAICA PRINTING SERVICES (1992) LTD.. (GOVERNMENT PRINTERS).

DUKE STREET.

KlNOSTON.

JAMAICA.

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