VPRS 759 Proceedings in Insolvent Estates

This series apparently commenced in February 1842 with the appointment of the Chief Commissioner of Insolvent Estates under the provisions of the Insolvency Act 5 Vic., No.17 (1841).The series consists of bundles of documents created in the process of declaring a person insolvent during the period 1842 to 1871. Documents for each case are bundled together and tied with pink tape. The documents within the files are original copies, hand written and officially stamped and signed. The front of each bundle details the registration number, the name of the insolvent and the date sequestrated. Each bundle contains the original petition, sworn statements of causes leading to insolvency, proofs of debts by creditors and an inventory of the insolvent's estate. The series ended in 1871 with the establishment of the Court of Insolvency, Melbourne (VA 2304).ProcedureA person was considered insolvent when he/she was unable to meet his/her debts in full. A debtor could petition to be declared insolvent by the court and as such to be discharged of all debts. In the case of compulsory sequestration (confiscation) creditors would petition the court for an order.An Order of Sequestration gave temporary control of an insolvent person's property to an official assignee/trustee. An Order for Sequestration was initially lodged with the Sheriff of the District and later with the Clerk of the Insolvent Court where the proceedings were being held. The order was then registered and delivered to the Chief Commissioner of Insolvent Estates and published in the Government Gazette.