Duties of the bankrupt (Section 158)
- A bankrupt shall:
- (a) Make discovery of and deliver all his property that is under his
possession or control to the Trustee or to any person authorized by the
trustee to take possession of it or any part thereof;
- (a.1) In such circumstances as are specified in directives of the
Superintendent, deliver to the trustee, for cancellation, all credit cards
issued to and in the possession or control of the bankrupt;
- (b) Deliver to the trustee all books, records, documents, writings and
papers including, without restriction the generality of the foregoing, title
papers, insurance policies and tax records and returns and copies thereof in
any way relating to his property or affairs;
- (c) At such time and place as may be fixed by the official receiver,
attend before the official receiver or before any other official receiver
delegated by the official receiver for examination under oath with respect
to his conduct, the causes of his bankruptcy and the disposition of his
property;
- (d) Within five days following the bankruptcy, unless the time is
extended by the official receiver, prepare and submit to the trustee in
quadruplicate a statement of the bankrupt's affairs in the prescribed form verified by
affidavit and showing the particulars of the bankrupt's assets and liabilities, the
names and addresses of the bankrupt's creditors, the securities held by them
respectively, the dates when the securities were respectively given and such
further or other information as may be required, but where the affairs of
the bankrupt are so involved or complicated that bankrupt alone cannot
reasonably prepare a proper statement of affairs, the official receiver
may, as an expense of the administration of the estate, authorize the
employment of a qualified person to assist in the preparation of the
statement;
- (e) Make or give all the assistance within his power to the trustee in
making an inventory of his assets;
- (f) Make disclosure to the trustee of all property disposed of within
the period beginning on the day that is one year before the date of the initial
bankruptcy event, or begining of such other antecedent date as the court may direct,
and ending on the date of the bankruptcy, both dates included, and how and to whom
and for what consideration any part thereof was disposed of except
such part as had been disposed of in the
ordinary manner of trade or used for reasonable personal expenses;
- (g) Make disclosure to the trustee of all property disposed of by gift
or settlement without adequate valuable consideration within the period beginning on the
day that is five years before the date of the initial bankruptcy event and ending
on the date of bankruptcy, both dates included;
- (h) Attend the first meeting of his creditors unless prevented by
sickness or other sufficient cause and submit thereat to examination;
- (i) When required, attend other meetings of his creditors or of the
inspectors, or attend on the trustee;
- (j) Submit to such other examinations under oath with respect to his
property or affairs as required;
- (k) Aid to the utmost of his power in the realization of his property
and the distribution of the proceeds among his creditors;
- (l) Execute such powers of attorney, conveyances, deeds and instruments
as may be required;
- (m) Examine the correctness of all proofs of claims filed, if required
by the trustee;
- (n) In case any person has to his knowledge filed a false claim,
disclose the fact immediately to the trustee;
- (n.1) Inform the trustee of any material change in the bankrupt's financial
situation;
- (o) Generally do all such acts and things in relation to his property
and the distribution of the proceeds among his creditors as may be
reasonably required by the trustee, or may be prescribed by General Rules,
or may be directed by the court by any special order made with reference to
any particular case or made on the occasion of any special application by
the trustee, or any creditor or person interested; and
- (p) Until his application for discharge has been disposed of and the
administration of the estate completed, keep the trustee advised at all
times of his place of residence or address.
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