Distribution of Funds in Semphill's Estates Act 1888 (NSW)

No. X X X I V .

An Act to provide for the distribution of

certain Funds among certain Creditors,

in respect of claims by them against Insolvent Estates, formerly assigned to

WH E R E A S , pursuant to tlie Insolvency Law then in force, Robert Hamilton Sempill was duly appointed one of the	Official Assignees of Insolvent Estates, and as such Official Assignee
received various sums of money in respect of certain Insolvent Estates,
but died before paying over the said sums to the creditors in such Insolvent Estates. And whereas Edward Milncr Stephen, as one of the Official Assignees of Insolvent Estates, was duly appointed the
Official Assignee of and for the said Insolvent Estates, in succession
to the said Robert Hamilton Sempill. And whereas the sum of two thousand pounds has been recovered from the sureties of the said
Robert Hamilton Sempill. And whereas a further sum of two
hundred and ninety-three pounds ten shillings and live pence remained, as a deposit in the Treasury, to the credit of the said Robert Hamilton
Sempill at the time of his death, and there is a further sum of five
hundred and ninety-nine pounds one shilling and four pence in the hands or under the control of the said Edward Milner Stephen as successor

Robert Hamilton Sempill, late Official

Assignee. [V7th May, 1888.]

successor to the said Robert Hamilton Sempill. And whereas the
a^jrrenrate a m a i m t now available for distribution amongst the creditors in the said Insolvent Estates, namely, two thousand eight hundred and ninety-two pounds eleven shillings and nine-ponce, is insufficient to
satisfy the sums due by the said Robert Hamilton Sempill to such
creditors. And it is necessary to provide for the ratable distribution, among such creditors, of the said sum. Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent
of the Legislative Council and Legislative Assembly of New South
Wales in Parliament assembled, and by the authority of the same, as follows:—
1. The said sum of two thousand eight hundred and ninety- two pounds eleven shillings and nine pence shall be ratably divided among the various Insolvent Estates of which the said Robert Hamilton
Sempill was formerly the Official Assignee in proportion to the aggre­
gate amount due and payable by the said Robert Hamilton Sempill, in respect of each of such estates; and the Judge in Bankruptcy
shall, for the purposes of this Act, have the powers and authority
of the Supreme Court, and all the powers and authorities conferred by the " Bankruptcy Act of 1887," subject to appeal as hereinafter
provided.

2. The said Edward Milner Stephen, or the Official Assignee

for the time being of such estates shall, within a time or times to be
limited by the said Judge in Chambers make a general report of the amount so due and payable in respect of each of such estates, and shall make application to the said Judge to confirm the same upon such evidence as can be produced. And of every such application twenty-eight days notice shall be given in the Gazette, and in such daily newspapers as to the said Judge shall seem fit, and further or separate reports shall be made when directed by the said Judge, as
occasion may require.
3. The said Judge after hearing such evidence, and evidence

(if any) tendered by any person interested in any such estate, shall

confirm or vary such reports, and adjudge the amount due and payable
by the said Robert Hamilton Sempill in respect of each of such
estates, and may assess and award the costs, charges, and expenses
incurred by and allowed to the said Edward Milner Stephen, or the
Official Assignee for the time being of such estates, in respect of such
reports and adjudication as to the said Judge may seem fit; and all

such costs shall be paid by and to whom he may direct.

1. After such adjudication and assessment and award of costs (if any), and the deduction of such costs, charges, and expenses as aforesaid, the said Edward Milner Stephen, or the Official Assignee

for the time being of such estates, shall make a general report, or further or separate reports, where directed as aforesaid, of the
ratable amount payable out of the balance of the said two thousand eight hundred and ninety-two pounds eleven shillings and ninepence to each of such estates, and after notices as prescribed as aforesaid shall apply to the said Judge to confirm the same, and upon such application the said Judge shall make such order as to him shall seem fit, with costs to be paid by and to whom he shall direct.

5. Any party interested in any such estate, who may be dis­

satisfied with any such adjudications or orders, or with any decision of

the said Judge in connection therewith, may within ten days after the making or pronouncing thereof apply to the Supreme Court to review, vary, or reverse the same, and thereupon such orders or references, inclusive of orders as to costs, shall bo made as may to the said Court seem just.

6. The orders so made or varied shall he final and conclusive, and all accounts and plans of distribution in such estates on the footing of such reports and orders, shall when confirmed or approved

be as valid to all intents and purposes as if no deficiency had

occurred.
7. Upon the hearing of such applications the said Judge may adjourn any matters for consideration or inquiry in Chambers, and lie shall have the same powers and authority in Chambers as if sitting in Court in Bankruptcy; but the final adjudication shall in every case

be in Court.