The Gazette 1924-27

The Gazette of the Incorporated Law Society or Ireland.

16

[JULY, 1926

Irish Bankruptcy Laws. A conference, consisting of representatives of the Dublin Chamber of Commerce, the Council of the Incorporated Law Society of Ireland, the Institute of Chartered Account– ants, the Society of Incorporated Accountants and Auditors, the Dublin Mercantile Associa- tion, and the Associations of Chambers of Commerce of the Irish Free State, has made an interim report containing the following recommendations for amendments to be made in the Irish Free State Bankruptcy Laws : 1. That an undischarged bankrupt shall be guilty of a misdemeanour if he either alone or jointly obtains credit to the extent of £10 or upwards from any person without inform– ing that person that he is an undischarged bankrupt, or if he engages in any trade or business under a name other than that under which he was adjudicated bankrupt without disclosing to all persons with whom he has business such name. 2. That every married woman who carries on a trade or business, whether separately from her husband or not, shall be subject to the Bankruptcy Laws as if she was " feme sole." 3. That the Judge in Bankruptcy shall have power on 'the Second Private Sitting on arrangement matters to order that goods delivered to the arranging debtor shortly prior to the filing of the petition (and when in the opinion of the Court the arranging debtor must have known he was insolvent), be returned to the party supplying such goods, or be paid in full. 4. That an insolvent trader who has not kept or produced proper books of account shall be guilty of a misdemeanour if the amount of his unsecured liabilities at the date of the Receiving Order exceeds £500, unless he can prove that it would be a hardship or against the custom of the trade to enter such details as may be required. 5. That a Deed of Arrangement authorised at a meeting of creditors at which a majority in number and three-fourths in value of all the creditors who have proved resolve to accept the proposal shall bind all creditors if approved by the Court; subject to the right of any creditor to apply to the Court to set aside the Deed on the grounds that it was not reasonable.

6. That a Trustee under a Deed of Arrangement shall be subject to a penalty if he acts on a Deed void by reason of non– registration or otherwise. 7. That a Trustee under a Deed of Arrangement shall be subject to direct control of the creditors or committee of creditors ;. his accounts shall be subject to their audit, and at the end of each six months he shall furnish each creditor with a state– ment of accounts and a report of proceedings to date. 8. That the remuneration of a Trustee under a Deed of Arrangement shall be fixed by the Creditors. 9. That it shall not be legal for any trader to transfer his or her business without giving immediate notice of such transfer in the Official Gazette. 10. That the State shall not be entitled to rank in priority to unsecured creditors in bankruptcy and arrangement matters, except as provided in the Preferential Payments in Bankruptcy (Ireland) Act, 1889. 11. That a return of " No Goods " by a trader shall be equivalent to a declaration of insolvency and be an act of bankruptcy. 12. That in arrangement matters when a preliminary meeting is ordered by the Chief Registrar, such meeting shall be held within fourteen days of taking protection, and that seven clear days' notice of such meeting be sent to all creditors together. Partnership. A partnership has been arranged between Mr. Patrick Rooney, of the firm of Thomas F. O'Connell Rooney & Co, Solicitors, 34 Kildare Street, Dublin, and Mr. Charles A. Doyle, Solicitor, 15 Kildare Street, Dublin, and the business of the partnership will in future be carried on at 34 Kildare Street, Dublin, under the title of " Thomas F. O'Connell Rooney & Co." ALL communications connected with THE GAZETTE (other than advertisements) should be addressed to the Secretary of the Society, 45 Kildare Street, Dublin.