BANKRUPTCY ACT

Section 78: Proceedings in case of vacancy in office of trustees.

1979Section 78 of 143Federal Republic of Nigeria

(1) If a vacancy occurs in the office of a trustee, the creditors in general meeting may appoint a person to fill the vacancy and thereupon the same proceedings shall be taken as in the case of a first appointment.
(2) The Official Receiver shall, on the requisition of any creditor, summon a meeting for the purpose of filling any such vacancy.
(3) If the creditors do not within three weeks after the occurrence of a vacancy appoint a person to fill the vacancy, the Official Receiver shall report the matter to the court, and the court may appoint a trustee.
(4) During any vacancy in the office of trustee the Official Receiver shall act as trustee.

Cite this section

Section 78, BANKRUPTCY ACT (1979).

https://repo.podus.ai/laws/bankruptcy-act/section/78/