VPRS 10246 Deeds Under 1915 Insolvency Act

Full description

The series consists of files created to document the process of declaring a person insolvent in the Melbourne and metropolitan region in the years 1915 to 1928. Documents within the files include:

- insolvent's statement
- statement of assets and receipts
- statement of disbursements and unrealised estate
- schedules/registration number of files/cases
- order of appointment for certificate of discharge.

The series ended in 1928 with the transfer of responsibility for the administration of iinsolvency function to the Commonwealth Government.

Procedure

A person was considered insolvent when he/she was unable to meet his/her debts in full. A debtor would petition to be declared insolvent by the court and as such to be discharged of all debts. In the case of compulsory sequestration (confiscation) creditors would petition the court for an order. Other documents attached to the original petition included sworn statements of causes leading to insolvency, proofs of debt by creditors and an inventory of insolvent's estate.

An Order of Sequestration gave temporary control of an insolvent person's property to an official assignee/trustee.