s.108Extension of power to avoid certain voluntary settlements, etc., as against the representatives of deceased settlers whose estates are insolvent
108
Section 108Part 17 — Benefit of Transactions Affecting the Debtor and the Debtor’s Property

Extension of power to avoid certain voluntary settlements, etc., as against the representatives of deceased settlers whose estates are insolvent

←→ Navigate  ·  Click subsection badges to collapse  ·  Press ? for help

In the administration by the Court of the assets of any deceased person, it shall be lawful for the Court, on the petition of any creditor or creditors of such deceased person whose claim or claims together, against the estate would have been sufficient to support a petition in bankruptcy against such person had that person not died, and on proof that the assets of such person were, at the time of that person’s death, insufficient to pay that person’s debts and liabilities in full, to order that any settlement of property made by such deceased person within the meaning of section 107 and except as therein excepted, or any conveyance or transfer of property or charge thereon, or any payment, obligation or judicial proceeding, made, incurred, taken or suffered by such person, that person being at the time of making, taking, paying or suffering the same, unable to pay that person’s debts as they become due from that person’s own moneys, in favour of any creditor or any person in trust for any creditor, with a view of giving such creditor preference over the other creditors, and which settlement, conveyance, transfer, charge, payment, obligation or judicial proceeding would have been void against the Trustee if a provisional order had taken effect against such deceased person at the moment of that person’s death, shall be void as against the executor, administrator, receiver or other person charged with the administration of the assets of such deceased person — Provided that such petition shall be presented within six months after the death of such deceased person — Provided also that the proper funeral and testamentary expenses, incurred by the legal personal representative in and about the deceased persons estate, shall be deemed a preferential debt, and the payment thereof by the legal personal representative shall be valid, or, if the same have not been paid at the time of the making of an order under this section, they shall be payable in full out of the debtor’s estate, in priority to all other debts — Provided also that nothing herein shall be deemed to make the legal personal representative of such deceased person personally liable in respect of any payment made, or act or thing done, in good faith before the date of the order for the administration of the assets of such person by the Court.

Cross References

Referenced By