LawgistThe Insolvency and Bankruptcy Code
157Acquisition of control by bankruptcy trustee
(1) The bankruptcy trustee shall take possession and control of all property, books, papers and other records relating to the estate of the bankrupt or affairs of the bankrupt which belong to him or are in his possession or under his control.
(2) Where any part of the estate of the bankrupt consists of things in actionable claims, they shall be deemed to have been assigned to the bankruptcy trustee without any notice of the assignment.
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CHAPTER V ADMINISTRATION AND DISTRIBUTION OF THE ESTATE OF THE BANKRUPT
- 149 Functions of bankruptcy trustee
- 150 Duties of bankrupt towards bankruptcy trustee
- 151 Rights of bankruptcy trustee
- 152 General powers of bankruptcy trustee
- 153 Approval of creditors for certain acts
- 154 Vesting of estate of bankrupt in bankruptcy trustee
- 155 Estate of bankrupt
- 156 Delivery of property and documents to bankruptcy trustee
- 157 Acquisition of control by bankruptcy trustee
- 158 Restrictions on disposition of property
- 159 After-acquired property of bankrupt
- 160 Onerous property of bankrupt
- 161 Notice to disclaim onerous property
- 162 Disclaimer of leaseholds
- 163 Challenge against disclaimed property
- 164 Undervalued transactions
- 165 Preference transactions
- 166 Effect of order
- 167 Extortionate credit transactions
- 168 Obligations under contracts
- 169 Continuance of proceedings on death of bankrupt
- 170 Administration of estate of deceased bankrupt
- 171 Proof of debt
- 172 Proof of debt by secured creditors
- 173 Mutual credit and set-off
- 174 Distribution of interim dividend
- 175 Distribution of property
- 176 Final dividend
- 177 Claims of creditors
- 178 Priority of payment of debts
