Law library · Sierra Leone · The Bankruptcy Act, 2009
Section 44, The Bankruptcy Act, 2009
Status not yet checkedThe Bankruptcy Act, 2009, Sierra Leone
(1) Where any goods of the debtor are taken in execution,and before the sale of the goods or the completion of the execution
by the receipt or recovery of the full amount of the levy, notice is
served on the bailiff that a receiving order has been made against the
debtor, the bailiff shall, on request deliver the goods and any
negotiable instruments or money, or any money received in
satisfaction or part satisfaction of the execution, to the official receiver,
but the costs of the execution shall be a first charge on the property
so delivered and the Official Receiver or trustee may sell the goods,
or an adequate part of the goods, or apply the money for the purpose
of satisfying the charge.
(2) Where under an execution in respect of a judgment
for a sum exceeding Le100,000, the property of a debtor is sold or
money is paid in order to avoid sale, the bailiff shall deduct his costs
of the execution from the proceeds of sale and pay the balance into
court, and if within fourteen days of such sale or payment a bankruptcy
petition is presented by or against the debtor, the balance shall be
paid out to the trustee in the bankruptcy, who will be entitled to
retain it against the execution creditor, but otherwise it shall be dealt
with as if no bankruptcy petition has been presented.
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