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Joint Committee on Legislation debate -
Friday, 24 May 1985

SECTION 74.

Question proposed: "That section 74 stand part of the Bill."

This section re-enacts the provision of section 266 of the 1857 Act. It provides that if one or more partners of a firm is a bankrupt any creditor of the firm may prove his debt or be admitted a creditor for the purpose of voting in the choice and appointment of a creditors assignee. That creditor, however, because he is a creditor of the firm and not of the individual partner who is being adjudicated will not receive any dividend out of the separate estate of the bankrupt until all the separate creditors have received the full amount of their debts.

Question put and agreed to.
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