Section 44
Provisions as to second bankruptcy
(1)
Where a second or subsequent receiving order is made against a bankrupt, or where an order is made for the administration in bankruptcy of the estate of a deceased bankrupt, then for the purposes of any proceedings consequent upon such order, the trustee in the last preceding bankruptcy is deemed to be a creditor in respect of any unsatisfied balance of the debts provable against the property of the bankrupt in that bankruptcy.
(2)
In the event of -
(a)
a second or subsequent receiving order made against a b a r h p t being followed by an order adjudging him bankrupt; or
(b)
an order being made for the administration in barhptcy of the estate of a deceased bankrupt, a any property acquired by him since he was last adjudged bankrupt, which at the date when the subsequent petition was presented had not been distributed amongst the creditors in such last preceding bankruptcy, shall, subject to any disposition thereof made by the Official Receiver or trustee in that bankruptcy, without knowledge of the presentation of the subsequent petition, and subject to the provisions of section 52, vest in the trustee in the subsequent bankruptcy or administration in bankruptcy, as the case may be.
(3)
Where the trustee in any bankruptcy receives notice of a subsequent petition in bankruptcy against the bankrupt or, after his decease,
B. L. R.O. 71,3021
54
Bankruptcy of a petition for the administration of his estate in bankruptcy, the trustee shall -
(a)
hold any property then in his possession which has been acquired by the bankrupt since he was adjudged bankrupt until the subsequent petition has been disposed of; and
(b)
if on the subsequent petition an order of adjudication or an order for the administration of the estate in bankruptcy is made, transfer all such property or the proceeds thereof (after deducting his costs and expenses) to the trustee in the subsequent bankruptcy or administration in bankruptcy, as the case may be.
Effect of bankruptcy on antecedent and other transactions