The bankrupt's estate, of which the equity of redemption of mortgaged property forms part1, vests in his trustee in bankruptcy on his appointment taking effect2. Neither the mortgagor while bankrupt3, nor his general creditors4, can redeem property which he has mortgaged. His trustee in bankruptcy has, however, certain powers to redeem such property5, but he cannot, after a foreclosure order has been made, claim to redeem the mortgaged property at the valuation put upon the security by the mortgagee in the bankruptcy proceedings unless a special direction
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