Inspectorship, Deed Of - Definition - Law Dictionary

Definition :

Inspectorship, Deed of, an instrument entered into between an insolvent debtor and his creditors, appointing one or more person or persons to inspect and oversee the winding up of such insolvent affairs on behalf of the creditors. See COMPOSITION; and the repealed (English) Bankruptcy Act, 1869 (32 & 33 Vict. c. 71), ss. 125, 127. Compare' committee of inspection'; as to which, see Bankruptcy Rules, 1915, r. 294, and in companies (winding up by the Court), under the (English) Companies Act, 1929, ss. 198-201, and upon voluntary winding up, appointed by creditors, s. 240 (ibid.).