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Section 49 refers to transactions defrauding creditors and it is applicable once a CD has entered into an undervalued transaction as referred to in sub-section (2) of Section 45 'deliberately' on the pretext of (a) keeping the assets of CD beyond the reach of any person entitled to make a claim against the CD or (b) to ...

Orders under section 50 of the Bankruptcy Act Section 50 of the Bankruptcy Act 1966 provides for a creditor, after the issue of a bankruptcy notice or creditor's petition and before a debtor becomes bankrupt, applying to the Court for an order that the debtor's property be placed under the control of a trustee.

69.3 (1) Subject to subsections (1.1) and (2) and sections 69.4 and 69.5, on the bankruptcy of any debtor, no creditor has any remedy against the debtor or the debtor's property, or shall commence or continue any action, execution or other proceedings, for the recovery of a claim provable in bankruptcy.

Section 52 of the Act sets out the matters that have to be proved by the creditor before the court will make an order declaring someone bankrupt.

Companies Act Integrated Ready Reckoner|Companies Act 2013|CAIRR. IBC Section 49-Transactions defrauding creditors. (b) shall not require a person who received a benefit from the transaction in good faith, for value and without notice of the relevant circumstances to pay any sum unless he was a party to the transaction ...

An insolvent person, pursuant to section 49 of the BIA, may make an assignment of all of his property for the general benefit of his creditors. This is done by filing an assignment with the Official Receiver.

Under section 244 of the Bankruptcy and Insolvency Act (BIA), a secured creditor must send a prescribed notice to the debtor prior to enforcing its security on all or substantially all the debtor's business related: Inventory. Accounts Receivable.

Section 181A of the Bankruptcy Act 1966 provides a streamlined way to replace a trustee. Using this provision, the current bankruptcy trustee can agree to the replacement and simply replace himself or herself with someone else. This is subject to giving notice to creditors and there being no creditor objections.