5962

SECRETARIAL PRACTICE
(e)

to make any compromise or arrangement with creditors or
persons claiming to be creditors, or having or alleging them-
selves to have any claim, present or future, certain or con-
tingent, ascertained or sounding only in damages against
the company, or whereby the company may be rendered
liable:

to compromise all calls and liabilities to calls, debts, and
liabilities capable of resulting in debts, and all claims, pre-
sent or future, certain or contingent, ascertained or sound-
ing only in damages, subsisting or supposed to subsist
between the company and a contributory, or alleged con-
tributory, or other debtor or person apprehending liability
to the company, and all questions in any way relating to or
affecting the assets or the winding up of the company, on
such terms as may be agreed, and take any security for the
discharge of any such call, debt, liability or claim, and give
a complete discharge in respect thereof.

The liquidator in a winding up by the court shall have

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(2)
power—
(@)

to sell the real and personal property and things in action
of the company by public auction or private contract, with
power to transfer the whole thereof to any person or com-
pany, or to sell the same in parcels:

to do all acts and to execute, in the name and on behalf
of the company, all deeds, receipts, and other documents,
and for that purpose to use, when necessary, the company’s
seal:

to prove, rank, and claim in the bankruptcy, insolvency, or
sequestration of any contributory, for any balance against
his estate, and to receive dividends in the bankruptcy,
insolvency, or sequestration in respect of that balance, as a
separate debt due from the bankrupt or insolvent, and
rateably with the other separate creditors:

0 draw, accept, make, and indorse any bill of exchange or
promissory note in the name and on behalf of the company,
with the same effect with respect to the liability of the
company as if the bill or note had been drawn, accepted,
made, or indorsed by or on behalf of the company in the
course of its business:

to raise on the security of the assets of the company any
money requisite:

to take out in his official name letters of administration to
any deceased contributary, and to do in his official name any
other act necessary for obtaining payment of any money
due from a contributory. or his estate which cannot be
conveniently done in the name of the company, and in all
such cases the money due shall, for the purpose of enabling
the liquidator to take out the letters of administration or
recover the money, be deemed to be due to the liquaditor
himself:

(b)

‘c)

‘d)

,
2)
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14)