Bankruptcy and Insolvency Act

Marginal note:Precedence of receiving orders and assignments

• 70 (1) Every receiving order and every assignment made in pursuance of this Act takes precedence over all judicial or other attachments, garnishments, certificates having the effect of judgments, judgments, certificates of judgment, judgments operating as hypothecs, executions or other process against the property of a bankrupt, except those that have been completely executed by payment to the creditor or his agent, and except the rights of a secured creditor.

• Marginal note:Costs

  (2) Notwithstanding subsection (1), one solicitor’s bill of costs, including sheriff’s fees and land registration fees, shall be payable to the creditor who has first attached by way of garnishment or lodged with the sheriff an attachment, execution or other process against the property of the bankrupt.

• (3) [Repealed, 1992, c. 27, s. 37]