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Law library · Sierra Leone · The Bankruptcy Act, 2009

Section 21, The Bankruptcy Act, 2009

Status not yet checkedThe Bankruptcy Act, 2009, Sierra Leone

(1) Where a receiving order is made against a debtor then,if the creditors at the first meeting or any adjournment of the meeting by ordinary resolution resolve that the debtor be adjudged bankrupt, or pass no resolution, or if the creditors do not meet, or if a composition or scheme is not approved in pursuance of this Act within fourteen days after the conclusion of the examination of the debtor or such further time as the court may allow, the court shall adjudge the debtor bankrupt: and thereupon the property of the bankrupt shall become divisible among his creditors and shall vest in a trustee. (2) Notice of every order adjudging a debtor bankrupt, stating the name, address and description of the bankrupt, the date of the adjudication and the name of the trustee, shall be gazetted and shall be advertised in at least two newspapers, or as may be prescribed, and the date of the order shall, for the purposes of this Act, be the date of the adjudication.

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