Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 17 · Administration in Bankruptcy
367. Restriction of rights of creditor under enforcement order or attachment
Feedback & supportLast amended by an amending law of 2021.
Where the creditor of a bankrupt has obtained an enforcement order against the goods or lands of the bankrupt or has attached any debt due or property belonging to the bankrupt, the creditor is not entitled to retain the benefit of the enforcement order or attachment against the Official Assignee unless the creditor has completed the execution of the enforcement order or attachment before the date of the bankruptcy order, except that —
creditor
“creditor”, in relation to a debtor proposing a voluntary arrangement under Part 14, means a creditor to whom the debtor owes a debt provable in bankruptcy;
a person who purchases in good faith under a sale by the Sheriff any goods of a bankrupt on which an enforcement order has been executed acquires a good title in all cases to them against the Official Assignee; and
the rights conferred by this subsection on the Official Assignee may be set aside by the Court in favour of the creditor to such extent and subject to such terms as the Court thinks fit.
For the purposes of this Act —
an enforcement order against goods is completed by seizure and sale;
an attachment of a debt is completed by receipt of the debt; and
an enforcement order against land or any interest in land is completed by registering under any written law relating to the registration of land an enforcement order for seizure and sale of property attaching the interest of the bankrupt in the land described in the enforcement order for seizure and sale of property.