Title 5 — Judicial Procedure
63 chapters · 721 sections in this title.
5 V.I.C. § 1201 Validity of assignments
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No voluntary assignment for the benefit of creditors hereafter made shall be valid unless the same is made in conformity to the terms of this chapter.
5 V.I.C. § 1202 Property covered by assignment
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Every assignment for the benefit of creditors shall be of all the property, real and personal, of the assignor or assignors therein named, wherever situated, except so much thereof as may be exempt by law from levy and sale on execution.
5 V.I.C. § 1203 Description of property
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(a) Real property so assigned shall be described in the deed of assignment in such manner as would be requisite in an ordinary deed of conveyance thereof, and real property claimed to be exempt shall be expressly excepted by like description. (b) Personal property claimed to be e…
5 V.I.C. § 1204 Clerk of the Superior Court as original assignee
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In every such assignment the clerk of the Superior Court shall be named as assignee.
5 V.I.C. § 1205 Form and execution; recording
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Such assignment shall be in writing, and shall be executed and acknowledged in the manner in which a conveyance of real property is required to be executed and acknowledged in order to entitle the same to be recorded. Within twenty-four hours after its execution it shall be filed…
5 V.I.C. § 1206 Duties of clerk
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Immediately upon the execution and delivery of any such assignment, the clerk shall take possession of all the assigned estate, and preserve, insure, and safely keep the same for administration according to law. The clerk and his sureties shall be liable, upon his official bond, …
5 V.I.C. § 1207 Inventory of assignor
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(1) Within ten days after the assignment is made the assignor or assignors executing the same shall make and file in the Superior Court of the Virgin Islands an inventory verified by the affidavit of the person or persons making the same, that the same is in all respects full, tr…
5 V.I.C. § 1208 Notice of creditors' meeting
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Immediately upon the receipt of the inventory, the judge of the district court shall fix a day, not more than fifteen days thereafter, for a meeting of the creditors of such assignor or assignors at his office for the purpose of choosing an assignee to succeed the clerk in the tr…
5 V.I.C. § 1209 Creditors' meeting; choice of assignee to succeed clerk
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At the time and place fixed in the order, the creditors, or so many of them as are present in person or by proxy, may proceed by ballot to choose an assignee to succeed the clerk, and the clerk shall not be eligible. At the election each creditor shall be entitled to cast one vot…
5 V.I.C. § 1210 Adjournment of meeting; failure to choose assignee
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The meeting of the creditors may be adjourned from day to day not exceeding three days. If there is a failure to choose an assignee as provided in section 1209 of this title, the clerk shall remain the assignee of the estate.
5 V.I.C. § 1211 Inventory and appraisement
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(a) Immediately upon the adjournment of the creditors' meeting the clerk and the assignee, if any is chosen at the meeting, shall proceed to make and return to the district court an inventory and appraisement of the entire estate assigned. (b) From time to time, the assignee shal…
5 V.I.C. § 1212 Delivery of property to assignee
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The clerk shall deliver to such assignee all the personal property belonging to such estate, and shall execute and deliver to such assignee, as such, a deed of quit claim of all real property conveyed by the assignment.
5 V.I.C. § 1213 Period for filing claims or objections; claims not due
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(a) Upon the day of meeting of the creditors the judge shall fix a day, not more than 60 nor less than 30 days thereafter, within which all claims against the assignee estate shall be filed, and within which the assignee or assignor or any creditor may file any objection, defense…
5 V.I.C. § 1214 Allowance of uncontested claims; proceedings on contested claims
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On the day following the day fixed under the provisions of section 1213 of this title all uncontested claims shall be allowed by the judge. Upon all contested claims the judge shall order pleadings, as nearly as practicable like those in ordinary civil actions, to be summarily ma…
5 V.I.C. § 1215 Judgment on contested claims
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Judgment in an action on a contested claim shall be that such claim or some amount thereof be allowed, or that the same be disallowed, or that the assignee recover from the person making the claim a certain amount. If the claim is allowed, judgment for costs shall be adjudged aga…
5 V.I.C. § 1216 Sale of assigned estate
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(a) Immediately upon the return of the inventory and appraisement, the assignee shall proceed to advertise for sale and sell the assigned estate in all respects as though the same had been taken on execution issued out of the district court. Real property so sold shall be conveye…
5 V.I.C. § 1217 Reports of sales; proceeds
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Immediately upon the sale of any portion of the estate, the assignee shall report to the court the description or descriptions of the property sold and the amount received for the same and shall retain the proceeds subject to the order of the court. He shall also make a like repo…
5 V.I.C. § 1218 Priority for distribution of moneys
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(1) Moneys coming into the hands of the assignee shall be distributed in the following order—(1) to the payment of the fees and allowances of the assignee, clerk, marshal, attorneys, and officers;(2) to the payment of any public tax or assessment charged against the assignor or a…
5 V.I.C. § 1219 Dividends for contested claims
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If at the time any order of distribution is made there is any contested claim still being litigated, a dividend shall be declared in its favor in all respects as though the same had been finally allowed, but the assignee shall be directed, in the order of distribution, to retain …
5 V.I.C. § 1220 Orders for distribution of moneys
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(a) At the expiration of two hundred and ten days from the date of the inventory and appraisement, or sooner if, and as often as the assignee is in the possession of sufficient funds, the court shall order a distribution of all moneys in the assignee's hands, fixing the amount in…
5 V.I.C. § 1221 Order discharging assignee from liability
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When the final order of distribution has been made, and the assignee has made return and satisfactory proof that he has obeyed all orders of distribution and paid the money as therein directed, the court shall enter an order discharging the assignee from all liability on account …
5 V.I.C. § 1222 Accounting by assignee; removal
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The judge may at any time cite the assignee to make an account, and shall do so whenever the assignee neglects or refuses to account at any time when he is required so to do by this chapter. The judge may enforce his orders in the premises by attachment as for contempt, and may p…
5 V.I.C. § 1223 Partnerships
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A partnership estate may be assigned without including the individual property of the persons composing the partnership, or one or more of the partners may include his or their individual estate in the assignment. In that case separate inventories of the property and creditors of…
5 V.I.C. § 1224 Other remedies of creditors
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The existence of an assignment, or the fact that any creditor has proven his claim against an assigned estate shall not affect the right of such creditor to pursue any remedy at law or in equity for the collection of his claim against all or any of the assignors or all or any of …
5 V.I.C. § 1225 Examination of assignor; orders of court
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Upon the application of the assignee or of any creditor, the court may compel, by citation or attachment, the assignor or assignors to appear in person forthwith or at such times as the court may fix, and answer under oath, such questions as may be put to them, or either of them,…
5 V.I.C. § 1226 Examination of third persons
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When an affidavit is filed by any person interested in the estate, alleging that any person has, or that the affiant has good reason to and does verily believe that any person has, any property, goods, chattels, bills of exchange, promissory notes, credits, or effects of the assi…
5 V.I.C. § 1227 Powers of assignee in collection of estate
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The assignee shall have full power, except as otherwise provided in this chapter, to sue for and recover in his own name as assignee, all and singular, the estate, property and effects, real and personal, and amounts owing upon choses in action, and to execute and give releases, …
5 V.I.C. § 1228 Assignments void as to creditors
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(a) Every assignment shall be void as to the creditors of the assignor if —(1) it gives a preference of one debt or class of debts over another, except a preference to any person of not more than the amount due for sixty days for labor or wages;(2) it requires any creditor to rel…
5 V.I.C. § 1229 Action to set aside fraudulent conveyance
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If the assignor or assignors have made any fraudulent conveyance or disposition of his or their property, or any part of it, or any conveyance of the same, or any part of it, in whole or in part directly or indirectly for his or their benefit, the assignee shall upon the directio…
5 V.I.C. § 1230 Fraudulent conveyances and preferences
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(a) If a person being insolvent, or in contemplation of insolvency, within 90 days before the making of any assignment, makes a sale, assignment, transfer, or other conveyance of any description of any part of his property, to a person who then has reasonable cause to believe him…
5 V.I.C. § 1231 Penalties
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(1) Whoever, in contemplation of making an assignment for the benefit of creditors—(1) secretes or conceals any property belonging to his estate; or,(2) parts with, conceals, destroys, alters, mutilates, or falsifies, or causes to be concealed, destroyed, altered, mutilated, or f…
5 V.I.C. § 1232 Discharge of assignor from liability
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The district court may, in its discretion, after the final order of distribution, issue a further final order discharging the assignor from any and all liabilities existing on the date of the filing of the assignment.