CHAPTER 2
ADMINISTRATION OF PARTNERSHIP ESTATES
618. Administration of partnership estates
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In the administration of the estates of bankrupt and insolvent partners the following provision shall have effect—
(1) any creditor, whose debt is sufficient to entitle him or her to present a bankruptcy petition against all the partners of a firm may present a petition against any one or more partners of the firm without including the others;
(2) the partnership property is applied as joint estate in payment of the debts of the firm, and the separate property of each partner is applied as separate estate in payment of his or her separate debts. After such payment the surplus, if any, of the joint estate is applied in payment of the separate debts of the partners, and the surplus, if any, of the separate estate is applied in payment of the debts of the firm;
(3) where the joint estate of a firm or the separate estate of any partner is being administered, no partner in the firm may prove in competition with the creditors of the firm, either against the joint estate of the firm, or against the separate estate of any other partner, until all the debts of the firm have been paid;
(4) any creditor of a firm, holding a security for his or her debt upon separate property of any partner, may prove against the joint estate of the firm, and any separate creditor of a partner, holding a security for his or her debt upon the property of the firm, may prove against that partner's separate estate without giving up his or her security: Provided that the creditor must in no case receive in the whole more than the full amount of his or her debt;
(5) if a debtor was at the date of the receiving order liable in respect of distinct contracts as a member of 2 or more distinct firms, or as a sole contractor and also as member of a firm, the circumstances that the firms are in whole or in part composed of the same individuals, or that the sole contractor is also one of the joint contractors, shall not prevent proof in respect of the contracts against the properties respectively liable on the contracts;
(6) where the discharge of any member of a partnership firm is granted to him or her in his or her separate bankruptcy, he or she is thereby released from the debts of his or her firm as well as from his or her separate debts.