Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 17

First and other meetings of creditors

Caution: This is a past version. See the current version here.

Proceedings consequent on order

(1) As soon as may be after the making of a receiving order against a debtor a
general meeting of his creditors (in this Ordinance referred to as the first
meeting of creditors) shall be held for the purpose of considering whether a
proposal for a composition or scheme of arrangement shall be accepted, or
whether it is expedient that the debtor shall be adjudged bankrupt, and
generally as to the mode of dealing with the debtor's property. (See Forms 30,
31, 32, 39 45)

(2) The Chief Justice may, with the approval of Legislative Council, make
rules providing for the summoning of and proceedings at the first and other
meetings of creditors. (Replaced 33 of 1939; G.N. 840 of 1940 Supp. Schedule)
[cf. 1914 c.59 s.13 U.K.]