486. Vesting of disclaimed property; leases.

The court may not make an order1 vesting property of a leasehold nature in any person, except on terms making that person:

  1.  

    (1)     subject to the same liabilities and obligations as the bankrupt was subject to under the lease on the day the bankruptcy application was made or (as the case may be) the bankruptcy petition was presented; or

  2.  

    (2)     if the court thinks fit, subject to the same liabilities and obligations as that person would be subject to if the lease had been assigned to him on that day2.

For the purposes of an order relating to only part

Popular documents