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Section 52 – The Provincial Insolvency Act,1920

The Provincial Insolvency Act,1920

Section 52. Duties of Courts executing decree as to property taken in execution

Where execution of a decree has been issued against any property of a debtor which is saleable in execution and before the sale thereof notice is given to the Court executing the decree that an insolvency petition by or against the debtor has been admitted, the Court shall, on application, direct the property, if in the possession of the Court, to be delivered to the receiver, but the costs of the suit in which the decree was made and of the execution shall be a first charge on the property so delivered, and the receiver may sell the property or an adequate part thereof for the purpose of satisfying the charge.

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The Provincial Insolvency Act,1920

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