Insolvency Act.pdf - Intax Info

shall be delivered at the office of the presiding officer not less than 24 hours before the
advertised time of the meeting at which it is intended to prove the claim, failing which the claim
shall not be admitted to proof at that meeting, unless the presiding officer is of opinion that
through no fault of the creditor he has been unable to deliver such evidence of his claim within
the prescribed period.
(6) Any document required by this section to be delivered before the meeting at the
office of the presiding officer shall be open for inspection at such office during office hours free
of charge by any creditor, the trustee, or the insolvent.
(7) Notwithstanding anything in this Act, if a claim against an estate is in respect of
liability for payment on open account for goods sold and delivered after the taking effect of this
Act, such claim shall not be admitted to proof unless there have been dispatched to the debtor,
not later than three months after the opening of the account, detailed statements thereof, and
thereafter at intervals not exceeding three months detailed statements of account from the date
up to which the last statement was dispatched.
(8) The presiding officer or the trustee may at any meeting examine any creditor seeking
to prove a claim against the estate, and the presiding officer may for that purpose administer an
oath to him.
(9) The Master, at the request of the trustee, may require any creditor who has proved a
claim to submit to examination in regard thereto by the trustee or his agent, and for that purpose
the Master or a magistrate authorized by him may administer an oath to the creditor.
44. Duty of the trustee upon delivery of claims to him
(1) Every claim proved against the estate and the vouchers and documents in support
thereof shall be delivered to the trustee by the presiding officer, and it shall be the duty of the
trustee forthwith to examine all available books, documents, and vouchers in connection with
every claim, and to satisfy himself that the estate is indebted to the creditor in the amount of the
claim.
(2) If he disputes the claim he shall report to the Master in writing his reasons for so
doing and the Master, after notice to the creditor, may reduce or expunge the claim, but if he
does so shall notify the creditor in writing forthwith.
(3) No account already confirmed and no dividend already paid shall be disturbed by
reason of anything done under this section.
45. Mutual dealings and set-off
Where there has been before the sequestration of the estate a right of compensation or
set-off between the insolvent and any creditor, that creditor shall annex to his claim and
affidavit, so far as may be possible, a detailed statement of the mutual indebtedness of himself
and the insolvent, and shall prove and rank in respect of such balance as may be found to be in
his favour:
Provided that a creditor claiming the benefit of the set-off did not, at the time when the
right of set-off accrued, know of-
(i) any act of insolvency upon which the estate was subsequently sequestrated;
(ii) the intention of the insolvent to surrender his estate; or
(iii) the fact that the insolvent's assets were insufficient to discharge his liabilities.
46. Particulars of tacit hypothec or right of retention to be specially mentioned
(1) No right of retention or tacit hypothec shall give any preference to any claim, unless
the creditor claiming the right of retention or tacit hypothec has set forth the particulars thereof in
the affidavit made in proof of his claim or in any amendment of that affidavit which he may
make.
(2) No creditor shall lose the right of any retention or tacit hypothec by delivering to the
trustee on demand the property subject to such right of retention or tacit hypothec, if, when
delivering the property, he notifies the trustee, in writing, of his rights and in due course proves
his claim against the estate.
Copyright Government of Botswana