Re H., an Arranging Debtor

• Jurisdiction: Ireland
• Judgment Date: 01 January 1958
• Date: 01 January 1958
• Court: Supreme Court

(S.C.),

In re H., An Arranging Debtor

Acceptance of arrangement by statutory majority of creditors - Whether "reasonable and proper to be executed under the direction of the Court" - Discretion of Bankruptcy Judge - Irish Bankruptcy and Insolvent Act,1857 (20 21 Vict., c. 60), s. 353.

H. the owner of an old established family business, sought protection of the Court and offered his creditors 4/ - in the £. The statutory majority of the creditors accepted the offer but this majority was obtained by the debtor's wife voting for the arrangement. A minority of creditors opposed the offer and alleged that the offer was not a reasonable and proper one under s. 353 of the Bankruptcy and Insolvent Act, 1857. Budd J., in the exercise of jurisdiction vested in him under s. 353 refused to sanction the arrangement on the grounds that it was not a reasonable and proper one for the Court to carry out and adjudicated H. a bankrupt. Held, Maguire C.J., and...