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Commentary

225 Power to disclaim

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

225 Power to disclaim

| Commentary

3: DISCLAIMER OF ONEROUS PROPERTY

225 Power to disclaim

The bankrupt’s estate may include property which either cannot be disposed of by the trustee for value or which imposes obligations on him which would cause expenditure from the estate to the detriment of the creditors as a whole. The trustee has the power to disclaim property of this nature by giving notice1 with the prescribed contents2. The notice of disclaimer must be authenticated and dated by the trustee3. The trustee may exercise this power of disclaimer in respect of any onerous property even if he has taken possession of it, endeavoured

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