Bankruptcy Act 1988
Priority of judgment mortgage.
(1857, s. 331)
51.—F38[(1) A judgment creditor who registers a judgment mortgage under section 116 of the Land and Conveyancing Law Reform Act 2009 shall not, by reason of such registration, be entitled to any priority or preference over simple contract creditors in the event of the person against whom such judgment mortgage is registered being adjudicated bankrupt, unless the judgment mortgage is registered at least three months before the date of the adjudication.]
Substituted (1.12.2009) by Land and Conveyancing Law Reform Act 2009 (27/2009), s. 8(1) and sch. 1, S.I. No. 356 of 2009.
Repealed (1.06.2015) by Companies Act 2014 (38/2014), s. 4(1) and sch. 2 part 1, S.I. No. 169 of 2015).
Modifications (not altering text):
References to the date of adjudication construed (1.06.2015) by Companies Act 2014 (38/2014), s. 613(3), S.I. No. 169 of 2015.
Application of bankruptcy rules in winding up of insolvent companies
(3) Subsection (1) of section 51 of the Bankruptcy Act 1988 shall apply in the winding up of an insolvent company and, accordingly, the reference in that subsection to the date of adjudication shall be read as—
(a) subject to paragraph (b), a reference to, as the case may be—
(i) the presentation of a petition for the winding up of the company by the court, or
(ii) the passing of a resolution for voluntary winding up,
(b) where, before the presentation of a petition for the winding up of the company by the court, a resolution has been passed by the company for voluntary winding up, a reference to the passing of the resolution.