The Insolvency (Northern Ireland) Order 1989

Article 287.

SCHEDULE 3 N.I. POWERS OF TRUSTEE IN BANKRUPTCY

PART I N.I. POWERS EXERCISABLE WITH SANCTION

1.  Power to carry on any business of the bankrupt so far as may be necessary for winding it up beneficially and so far as the trustee is able to do so without contravening any requirement imposed by or under any statutory provision. N.I.

2.  Power to bring, institute or defend any action or legal proceedings relating to the property comprised in the bankrupt's estate. N.I.

[F1 2A.   Power to bring legal proceedings under Article 312, 313 or 367.] N.I.

F1 Sch. 3 para. 2A inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 19 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)

3.  Power to accept as the consideration for the sale of any property comprised in the bankrupt's estate a sum of money payable at a future time subject to such stipulations as to security or otherwise as the creditors' committee or the High Court thinks fit. N.I.

4.  Power to mortgage or pledge any part of the property comprised in the bankrupt's estate for the purpose of raising money for the payment of his debts. N.I.

5.  Power, where any right, option or other power forms part of the bankrupt's estate, to make payments or incur liabilities with a view to obtaining, for the benefit of the creditors, any property which is the subject of the right, option or power. N.I.

6.  Power to refer to arbitration, or compromise on such terms as may be agreed on, any debts, claims or liabilities subsisting or supposed to subsistbetween the bankrupt and any person who may have incurred any liability to the bankrupt. N.I.

7.  Power to make such compromise or other arrangement as may be thought expedient with creditors, or persons claiming to be creditors, in respect of bankruptcy debts. N.I.

8.  Power to make such compromise or other arrangement as may be thought expedient with respect to any claim arising out of or incidental to the bankrupt's estate made or capable of being made on the trustee by any person or by the trustee on any person. N.I.

PART II N.I. POWERS EXERCISABLE WITHOUT SANCTION

9.  Power to sell any part of the property for the time being comprised in the bankrupt's estate, including the goodwill and book debts of any business. N.I.

10.   [F2 Without prejudice to Article 28 or 30 of the Property (Northern Ireland) Order 1997,] power to make, on such terms and conditions as the trustee may think proper, a sub‐fee farm grant of land or any part thereof, or a sub‐lease of land or any part thereof with a nominal reversion (and to sell the rent or reversion), where such sub‐fee farm grant or sub‐lease amounts in substance to a sale and the trustee has satisfied himself that it is the most appropriate method of disposing of the land. N.I.

F2 1997 NI 8

11.  Power to give receipts for any money received by him, being receipts which effectually discharge the person paying the money from all responsibility in respect of its application. N.I.

12.  Power to prove, rank, claim and draw a dividend in respect of such debts due to the bankrupt as are comprised in his estate. N.I.

13.  Power to exercise in relation to any property comprised in the bankrupt's estate any powers the capacity to exercise which is vested in him under Parts VIII to X. N.I.

14.  Power to deal with any property comprised in the estate to which the bankrupt is beneficially entitled as tenant in tail to the same extent as a commissioner under sections 49 to 61 of the Fines and Recoveries (Ireland) Act 1834F3 . N.I.

F3 1834 c. 92

PART III N.I. ANCILLARY POWERS

15.  For the purposes of, or in connection with, the exercise of any of his powers under Parts VIII to X, the trustee may, by his official name— N.I.

(a) hold property of every description,

(b) make contracts,

(c) sue and be sued,

(d) enter into engagements binding on himself and, in respect of the bankrupt's estate, on his successors in office,

(e) employ an agent,

(f) execute any power of attorney, deed or other instrument;

and he may do any other act which is necessary or expedient for the purposes of or in connection with the exercise of those powers.