VPRS 19354 Court of Insolvencies, Register of Insolvencies

Full description

his series was created to register insolvency cases heard at the Insolvency Court.

The Register of Insolvencies lists, in summary form, details of all cases of insolvencies dealt with by the Beechworth Court of Insolvency (VA 3073).

The role of the Insolvency Court was to:
- receive applications for and determine whether to grant Orders of Sequestration
- monitor the implementation of these orders
- grant Certificates of Discharge certifying that an insolvent had fulfilled the obligations of the Order.

An Order of Sequestration was the order made by the Court of Insolvency temporarily giving control of an insolvent person's property to one or more other people. These people were called assignees or trustees and were usually a court official. They were responsible for determining how an insolvent person's property and assets should be distributed between his or her creditors. Sequestration could be voluntary, that is, a person could come before the Court and declare themselves insolvent, or it could be compulsory, that is, one or more of a person's creditors could petition the Court for an Order.