BANKRUPTCY ACT

Section 12: Power to stay pending proceedings.

1979Section 12 of 143Federal Republic of Nigeria

(1) The court may at any time after the presentation of a bankruptcy petition either stay any action, execution or other legal process against the property or person of the debtor or allow it to continue on such terms as it may think just.
(2) Where the court makes an order staying any action or proceeding, or staying proceedings generally, the order may be served by sending a copy thereof, under the seal of the court, by post to the address for service of the plaintiff and any other party to the proceedings or to the address of the legal practitioner of such party.
(3) Without prejudice to the provisions of subsection (1) of this section, if the court orders the release of any debtor who is under execution for a civil debt, it may impose such conditions as it thinks fit, and in particular it may require as a condition of such release that the debtor finds security to attend in the subsequent bankruptcy proceedings and to abide by all orders of the court relating to the said proceedings.

Cite this section

Section 12, BANKRUPTCY ACT (1979).

https://repo.podus.ai/laws/bankruptcy-act/section/12/