PocketLaw | US Virgin Islands Code | Assignments for the Benefit of

Assignments for the Benefit of Creditors

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Validity of assignments

Property covered by assignment

Description of property

Clerk of district court as original assignee

Form and execution; recording

Duties of clerk

Inventory of assignor

Notice of creditors' meeting

Creditors' meeting; choice of assignee to succeed clerk

Adjournment of meeting; failure to choose assignee

Inventory and appraisement

Delivery of property to assignee

Period for filing claims or objections; claims not due

Allowance of uncontested claims; proceedings on contested claims

Judgment on contested claims

Sale of assigned estate

Reports of sales; proceeds

Priority for distribution of moneys

Dividends for contested claims

Orders for distribution of moneys

Order discharging assignee from liability

Accounting by assignee; removal

Partnerships

Other remedies of creditors

Examination of assignor; orders of court

Examination of third persons

Powers of assignee in collection of estate

Assignments void as to creditors

Action to set aside fraudulent conveyance

Fraudulent conveyances and preferences

Penalties

Discharge of assignor from liability