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In Re: Mahomed Mahmud Shah, an Insolvent - Court Judgment

LegalCrystal Citation
SubjectCivil
CourtKolkata
Decided On
Judge
Reported in(1886)ILR13Cal66
AppellantIn Re: Mahomed Mahmud Shah, an Insolvent
Excerpt:
insolvency - interest on scheduled debts--official assignee's commission on interest. - norris, j.1. in this case i think the surplus assets in the hands of the official assignee, after payment of the debts in full, ought to be applied in payment of interest at 6 per cent, on contract debts which expressly or impliedly carry interest; and that the official assignee should retain his commission of five per cent, on the amount of such interest. the balance then remaining in the hands of the official assignee should be paid to the insolvent.
Judgment:

Norris, J.

1. In this case I think the surplus assets in the hands of the Official Assignee, after payment of the debts in full, ought to be applied in payment of interest at 6 per cent, on contract debts which expressly or impliedly carry interest; and that the Official Assignee should retain his commission of five per cent, on the amount of such interest. The balance then remaining in the hands of the Official Assignee should be paid to the insolvent.


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