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Showing contexts for: void trust in The Official Receiver Of Trichinopoly vs S.A. Somasundaram Chettiar And Ors. on 1 February, 1916Matching Fragments
14. The question for determination is whether the trust deeds are void as against the Official Receiver, and whether the latter is entitled to an order calling upon the trustees to deliver over the properties of the insolvents in order that he may distribute it among the creditors. Mr. Srinivasagopalachariar, contends that the effect of the making of the adjudication order was to vest all the properties of the insolvents in the Official Receiver under Section 16 of the Provincial Insolvency Act, that the Official Receiver is alone entitled to administer the estate, and that the District Judge was in error in holding that the trustees were "transferees in good faith and for valuable consideration." The District Judge has not dealt with the question whether the trust deeds were void in a satisfactory manner, and merely observes that "the consideration was the obtaining as much as possible of their claims for the whole body of creditors."