Circular No. 44/15: LA & Bankruptcy Matters

  1. Letters of Administration

Following discussions with the Courts, it has been agreed that the Certified True Copy (CTC) of the grant and list of assets will now be issued by the Courts without the need for filing of the list of assets as a separate document incurring separate fees. Members would be able to get the CTC by paying the usual fees for CTC, as per the usual practice.

Where there is a need to change the particulars in the list of assets before issuance of the grant, it has been agreed with the Courts that members should only file a supplementary affidavit exhibiting the old and the new list of assets. Members are advised to take note accordingly.

2. Filing of separate notice of applications for extension of Bankruptcy Notice and service by substituted service 

At a meeting with the Chief Registrar’s Office on 7.10.2015, also attended by the Registrar of the High Court, we have stated our objections to this new practice on the grounds that (a) the Bankruptcy Rules do not require separate applications; (b) it is not practical to separate the applications as they are closely connected and in view of the limited time for extension given by the Courts; (c) the new practice duplicates the work for the Court officials when both applications can be dealt with simultaneously; (d) such practice cannot be implemented without amendment to the Bankruptcy Rules or with the necessary Practice Directions from the Registrar of the High Court that is consistent with the Bankruptcy Rules.

We have been informed that the Chief Registrar’s Office and the Registrar of the High Court will look into the matter again in view of our grounds of objections and a decision will be made soon. We will follow up on this and inform members accordingly in due course.

 

R Jayabalan

Chairman

Print Friendly, PDF & Email

This content is restricted to site members. If you are an existing user, please log in. New users may register below.

Existing Users Log In
   
New User Registration
*Required field