Bankruptcy Act 1988

Actions by Official Assignee and bankrupt's partners.

( cf. 1857, s. 278)

30

30.Where a member of a partnership is adjudicated bankrupt the Court may authorise the Official Assignee to commence and prosecute any action in the names of the Official Assignee and of the bankrupt's partner to recover any debt due to or any property of the partners, and any release by such partner of the debt or demand to which the action relates shall be void; but notice of the application for authority to commence the action shall be given to the bankrupt's partner and he may show cause against it and on his application the Court may, if it thinks fit, direct that he shall receive his proper share of the proceeds of the action. If the partner does not claim any benefit from the action he shall be indemnified against costs in respect thereof as the Court directs.

Annotations:

Modifications (not altering text):

C14

Application of section restricted (25.07.1994) by Investment Limited Partnerships Act 1994 (24/1994), s. 23, S.I. No. 213 of 1994.

Bankruptcy Act, 1988.

23.— For the purposes of the application of sections 30, 31, 32 and 36 of the Bankruptcy Act, 1988, a limited partner shall not be regarded as a partner of an investment limited partnership.