Statutory meeting of creditors and confirmation of permanent trustee
25 Confirmation of permanent trustee.
1
On the election of the permanent trustee—
a
the interim trustee shall forthwith make a report of the proceedings at the statutory meeting to the sheriff; and
b
the debtor, a creditor, the interim trustee, the permanent trustee or the Accountant in Bankruptcy may, within 4 days after the statutory meeting, object to any matter connected with the election; and such objection shall be by summary application to the sheriff, specifying the grounds on which the objection is taken.
2
If there is no timeous objection under subsection (1)(b) above, the sheriff shall forthwith declare the elected person to be the permanent trustee; and the sheriff shall confirm his election and the sheriff clerk shall issue to him an act and warrant in a form prescribed by the Court of Session by act of sederunt and send a copy of the act and warrant to the Accountant in Bankruptcy.
F12A
Where a report is made in pursuance of subsection (1) above, the interim trustee may apply to the sheriff for the grant of a certificate for the summary administration of the sequestration of the debtor’s estate.
3
If there is a timeous objection under subsection (1)(b) above, the sheriff shall forthwith give parties an opportunity to be heard thereon and shall give his decision.
4
If in his decision under subsection (3) above the sheriff—
a
rejects the objection, subsection (2) above shall apply as if there had been no timeous objection;
b
sustains the objection, he shall order the interim trustee to arrange a new meeting for the election of a permanent trustee; and sections 23 and 24 of this Act and this section shall apply in relation to such a meeting.
5
Any declaration, confirmation or decision of the sheriff under this section shall be final, and no expense in objecting under this section shall fall on the debtor’s estate.
6
The permanent trustee shall—
a
insert a copy of the said act and warrant in the sederunt book; and