Bankruptcy and Insolvency Act
Version of section 129 from 2002-12-31 to 2004-12-14:
Marginal note:May order security to be sold
129 (1) Where the trustee is dissatisfied with the value at which a security is assessed, the trustee may require that the property the security comprises be offered for sale at such time and on such terms and conditions as may be agreed on between the creditor and the trustee or, in default of such an agreement, as the court may direct.
Marginal note:Sale by public auction
(2) Where a sale under subsection (1) is by public auction the creditor or the trustee on behalf of the estate may bid or purchase.
(3) [Repealed, 1992, c. 27, s. 52]
Marginal note:Costs of sale
(4) The costs and expenses of a sale made under this section are in the discretion of the court.
- R.S., 1985, c. B-3, s. 129
- 1992, c. 27, s. 52
- Date modified: