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Wednesday, 18 November 1914


Senator KEATING (Tasmania) . - This clause deals with the powers which the trustee may exercise on his own motion, so to speak. The next clause in vests the trustee with powers which he can exercise only by permission of the creditors, the Committee of. Inspection, or the Court. It is very often a difficult matter to secure a meeting of creditors in an insolvent estate. In some cases many creditors wash their hands of the whole matter. I wish now to submit another amendment, of which I have given notice. I move -

That the following new paragraph be inserted : - (gg) Employ the bankrupt to do any busi ness necessary to carry on the business of the bankrupt.

It may happen that the insolvent estate is a very small one. It may be difficult for the trustee to secure a meeting of creditors, and it might be of advantage to the estate that the bankrupt should be employed at once as the man knowing most about the business. The amendment I now submit would permit the trustee, in order to carry on the estate in the interests of the creditors, to employ the bankrupt.


Senator Senior - Why specially mention the bankrupt? Why not say any person, which would include the bankrupt?


Senator KEATING - From the time an estate is placed in the hands of a trustee the bankrupt ceases to have anything to do with the business. My object is to give the trustee the power to employ him for a specific work, a specific period, or indefinitely, until the estate is finally wound up, and to enable the trustee to do so without calling a meeting of creditors, or making an application to the Court.







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