Section 17: Effect of order of adjudication. On the making of an order of adjudication, the property
The Insolvancy (Karachi Division) Act, 1909 · General Laws · Legal status not independently verified
Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.
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17. Effect of order of adjudication. On the making of an order of adjudication, the property of the insolvent wherever situate shall vest in the official assignee and shall become divisible among his creditors, and thereafter, except as directed by this Act, no creditor to whom the insolvent is indebted in respect of any debt provable in insolvency shall, during the pendency of the insolvency proceedings, have any remedy against the property of the insolvent in respect of the debt or shall commence any suit or other legal proceeding except with the leave of the Court and on such terms as the Court may impose: Provided that this section shall not affect the power of any secured creditors to realize or otherwise deal with his security in the same manner as he would have been entitled to realize or deal with it if this section had not been passed.
Effective date: 1909-01-01
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Version insolvancy-karachi-division-act-1909~PK-FED~base · Source-traceable official reference. LawHub does not modify the official record.