Revised Laws of Saint Lucia (2021)

CHAPTER 7
CONTROL

609.   Discretionary powers of trustee and control

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    (1)   The trustee shall, in the administration of the property of the bankrupt, and in the distribution amongst the creditors, have regard to any directions that may be given by resolution of the creditors at any general meeting.

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    (2)   The trustee may from time to time summon general meetings of creditors for the purpose of ascertaining their wishes, and it shall be his or her duty to summon meetings at such times as the creditors, by resolution, either at the meeting appointing the trustee or otherwise, may direct, or whenever any creditor, with the concurrence of 1/6 in value of the creditors (including himself or herself), shall request him or her in writing so to do, and the trustee shall call such meeting accordingly within 14 days: Provided that such creditor shall deposit with the trustee a sum sufficient to pay the cost of summoning the meeting, such sum to be repaid to him or her out of the estate if the creditors or the Court so direct.

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    (3)   The trustee may apply to the Court in manner prescribed for directions in relation to any particular matter arising under the bankruptcy.

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    (4)   Subject as aforesaid, the trustee shall use his or her own discretion in the management of the estate and its distribution among the creditors.