Amendment of assignment by judge. Notice of assignment to be published. Assignment to be registered. Penalty for neglecting 10. No advantage shall be taken or gained by any creditor of any mistake, defect or imperfection in any assignment under this Act for the general benefit of creditors, if the same can be amended or corrected; and any such mistake, defect or imperfection shall be amended by any judge of the Court of King's Bench or of the County Court in the office of which it is registered or by this Act required to be registered. Such amendment may be made on application of the assignee or of any creditor of the assignor, on such notice being given to other parties concerned as the judge shall think reasonable, and the amendment, when made, shall have relation back to the date of the assignment, but so as not to prejudice the rights of innocent purchasers. R.S.M. c. 8, s. 10. 11. No assignment made for the general benefit of creditors under this Act shall be within the operation of "The Bills of Sale and Chattel Mortgage Act," but a notice of the assignment shall, as soon as conveniently possible, be published at least once in The Manitoba Gazette and not less than twice in at least one newspaper having a general circulation in the judicial district in which the property assigned is situate. R.S.M. c. 8, s. 11. 12. A counterpart or copy of every such assignment shall also, within ten days from the execution thereof, be registered (together with an affidavit of a witness thereto of the due execution of such counterpart or of the assignment of which the copy filed purports to be a copy) in the office of the clerk of the County Court of the judicial division where the assignor, if a resident in Manitoba, resides at the time of the execution thereof, or, if he is not a resident, then in the office of the clerk of the County Court of the judicial division where the personal property so assigned is or where the principal part thereof (in case the assignment includes property in more judicial divisions than one) is at the time of the execution of such assignment; and such clerks shall file all such instruments presented to them respectively for that purpose and shall endorse thereon the time of receiving the same in their respective offices, and the same shall be kept there for the inspection of all persons interested therein. The said clerks respectively shall number and enter such assignments, and be entitled to the same fees for services in the same manner as if such assignments had been registered under "The Bills of Sale and Chattel Mortgage Act." R.S.M. c. 8, s. 12. 13. If the said notice is not published in the regular publication or number of The Manitoba Gazette and in such newspaper as registration. aforesaid within ten days from the execution of the assign ment by the assignor, or if the assignment is not registered as aforesaid within ten days from the execution thereof, the assignor shall be liable to a penalty of twenty-five dollars for each and every day which shall pass after the issue of the number of the newspaper in which the notice should have appeared until the same shall have been published; and a like penalty for each and every day which shall pass after the expiration of ten days from the execution of the assignment by the assignor until the same shall have been registered. (2) The assignee shall be subject to a like penalty for any such delay for each and every day which shall pass after the expiration of ten days from the delivery of the assignment to him, or of ten days after his assent thereto. The burden of proving the time of such delivery or assent shall upon the assignee. be (3) Such penalties may be recovered summarily with costs before any judge of the Court of King's Bench, and one-half of the penalty shall go to the party suing and the other half for the benefit of the estate of the assignor. Liability of he official (4) In case of an assignment to an official assignee, shall not be liable for any of the penalties imposed in this assignee. section unless he has been paid or tendered the cost of advertising and registering the assignment a reasonable time before the time required for so advertising and registering, nor shall he be compelled to act under the assignment until his costs in that behalf are paid or tendered to him. R.S.M. c. 8, s. 13. publication registration. 14. If the assignment is not registered and notice thereof Compelling published within the time herein before prescribed, an appli- and cation may be made by anyone interested in the assignment to a judge of the Court of King's Bench to compel the registration of the assignment and publication of such notice; and the judge shall make his order in that behalf, and with or without costs, or upon the payment of costs by such person as he may in his discretion direct to pay the same. R.S.M. c. 8, s. 14. not invali 15. The omission to publish or register as aforesaid, or Assignment any irregularity in the publication or registration, shall not dated by invalidate the assignment. R.S.M. c. 8, s. 15. omission to publish,etc. CREDITORS' ASSIGNEE. 16. A majority in number and value of the creditors Appointment who have proved claims to the amount of one hundred dol of substituted assignee. Rights and duties of the substituted assignee. Assignee to call meeting of creditors. Meeting of creditors by request of majority thereof. Judge to give directions in do not attend. lars or upwards may at their discretion substitute any other person for any assignee to whom an assignment has been made. R.S.M. c. 8, s. 16. 17. Where a new assignee is substituted or appointed as in the last preceding section provided, the estate shall forthwith vest in the new or additional assignee, without a conveyance or transfer, and he shall register an affidavit of his appointment in the office in which the original assignment was filed. Such an affidavit may also be registered under "The Registry Act" or filed under "The Real Property Act," and such registration or filing shall have the same effect as the registration of a conveyance or filing of a transfer. R.S.M. c. 8, s. 17. MEETINGS OF CREDITORS. 18. It shall be the duty of the assignee immediately to inform himself, by reference to the debtor and his records of account, of the names and residences of the debtor's creditors, and, within five days from the date of assignment, to convene a meeting of the creditors for the appointment of inspectors and the giving of directions with reference to the disposal of the estate, by mailing prepaid and registered to every creditor known to him a circular calling a meeting of creditors to be held in his office, or some other convenient place to be named in the notices, not later than twelve days after the mailing of such notice; and he shall also publish such notice by advertisement in The Manitoba Gazette in the first issue after the expiration of such period of five days. R.S.M. c. 8, s. 18. 19. If a request in writing be signed by a majority of the creditors having claims duly proved of one hundred dollars and upwards, computed according to the provisions of section 22 of this Act, it shall be the duty of the assignee, within two days after receiving such request, to call a meeting of the creditors at a time not later than twelve days after the assignee receives the request. In case of default, the assignee shall be liable to a penalty of twenty-five dollars for every day after the expiration of the time limited for the calling of the meeting until the meeting is called. R.S.M. c. 8, s. 19. 20. If a sufficient number of creditors do not attend case creditors the meeting mentioned in the last preceding section, or fail to give directions with reference to the disposal of the estate, any of the judges aforesaid may give all necessary directions in that behalf. R.S.M. c. 8, s. 20. meeting. 21. At any meeting of creditors the creditors may vote Voting at in person, or by proxy authorized in writing; but no creditor whose vote is disputed shall be entitled to vote until he has filed with the assignee an affidavit in proof of his claim, stating the amount and nature thereof. R.S.M. c. 8, s. 21. 22. Subject to the provisions of sections 16 and 20 here- Scale of votes. of, all questions discussed at meetings of creditors shall be decided by the majority of votes, and for such purpose the votes of creditors shall be calculated as follows: For every claim of or over one hundred dollars, and less than two hundred dollars, one vote; For every claim of or over two hundred dollars, and less than five hundred dollars, two votes; For every claim of or over five hundred dollars, and less. than one thousand dollars, three votes; For every additional one thousand dollars, or fraction thereof, one vote. acquired (2) No person shall be entitled to vote on a claim ac- Upon claims quired after the assignment unless the entire claim is acquir- after ed, but this shall not apply to persons acquiring votes, bills or other securities upon which they are liable. assignment. (3) In case of a tie the assignee, or, if there are two Casting vote. assignees, then the assignee nominated for that purpose by creditors (or by the judge if none has been nominated by the creditors), shall have a casting vote. R.S.M. c. 8, s. 22. CREDITORS' CLAIMS. claim. 23. Every person claiming to be entitled to rank on the Proof of estate assigned shall furnish to the assignee particulars of his claim, proved by affidavit and such vouchers as the nature of the case admits of. R.S.M. c. 8, s. 23. time for proof 24. If a person claiming to be entitled to rank on the Limiting estate assigned does not, within a reasonable time after re- of claim. ceiving notice of the assignment and of the name and address of the assignee, furnish to the assignee satisfactory proofs of his claim, as provided by this and the preceding sections of this Act, a judge of the Court of King's Bench may, upon a summary application by the assignee or by any other person interested in the debtor's estate (of which application at least three days' notice shall be given to the person alleged to have made default in proving a claim as aforesaid), order that, unless the claim be proved to the satisfaction of the judge within a time to be limited by the order, the person so making default shall no longer be deemed a creditor of Not to inter fere with the estate assigned, and shall be wholly barred of any right to share in the proceeds thereof; and, if the claim is not so proved within the time so limited, or within such further time as the said judge may by subsequent order allow, the same shall be wholly barred, and the assignee shall be at liberty to distribute the proceeds of the estate as if no such claim existed, but without prejudice to the liability of the debtor therefor. (2) This section is not intended to interfere with the Trustee Act. protection afforded to assignees by sections 40 and 41 of "The Manitoba Trustee Act." R.S.M. c. 8, s. 24. Creditors may prove Set-off. How claims are to rank ent estates. 25. A person whose claim has not accrued due shall nevertheless be entitled to prove under the assignment and vote at meetings of creditors, but in ascertaining the amount of any such claim a deduction for interest shall be made for the time which has to run until the claim becomes due. R.S.M. c. 8, s. 25. 26. The law of set-off shall apply to all claims made against the estate and also to all actions instituted by the assignee for the recovery of debts due to the assignor, in the same manner and to the same extent as if the assignor were plaintiff or defendant, as the case may be, except in so far as any claim for set-off shall be affected by the provisions of this or any other Act respecting frauds or fraudulent preferences. R.S.M. c. 8, s. 26. 27. If any assignor executing an assignment under this where differ- Act for the general benefit of his creditors owes or owed debts both individually and as a member of one or more different co-partnerships, the claims shall rank first upon the estate by which the debts they represent were contracted, and shall only rank upon the other or others after all the creditors of such other estate or estates have been paid in full. c. 8, s. 27. Workmen's wages not ex months privi under assignment for benefit of creditors. R.S.M. 28. In case of an assignment under this Act, the asceeding three signee shall pay, in priority to the claims of the ordinary or leged claims general creditors of the person making the same, the wages or salary of all persons in the employ of such person at the time of the making of such assignment, or within one month before the making thereof, not exceeding three months' wages or salary, such wages or salary to be for arrears only and not for any unearned portion, and such persons shall be entitled to rank as ordinary or general creditors for the residue, if any, of their claims for arrears of such wages or salary. The provisions of this section shall apply to wages Provisions applicable to all wages. |