Any insolvent debtor may file in the circuit court of the county in which he or she resides a complaint in which one (1) or more of his or her creditors shall be made defendants, asking to be declared an insolvent, and asking for the appointment of a receiver to take charge of his or […]
(a) When the receiver has been qualified, the debtor shall turn over to the receiver all of his or her property. For the real estate he or she shall execute, acknowledge, and deliver to the receiver a proper deed of conveyance. (b) The debtor shall be allowed by the court to select and reserve whatever […]
The debtor shall furnish the names and addresses of his or her creditors, who shall be notified by mail and also by order of publication of the filing of the complaint.
The receiver shall intervene in every case in which the property of the insolvent debtor has, within ten (10) days before the filing of the petition, been attached. Upon the receiver’s motion, every such attachment shall be dissolved and the attached property shall be turned over to the receiver upon the payment by the receiver […]
As soon as the receiver shall have taken the property into his or her custody, he or she shall proceed under the direction of the court, or of the judge, in vacation, to convert the property into money.
(a) Upon the final hearing, the court, after deducting the cost and paying all public taxes, shall order the proceeds to be distributed among the creditors in the order and with the following preferences: (1) The salaries of employees earned within three (3) months and all laborers’ wages shall be paid first; (2) After making […]
In the case of an insolvent partnership, all or any of the partners may unite in one (1) complaint filed in the county where either one resides; but in such cases, all individual as well as firm property must be turned over to the receiver, and the firm property and the individual property shall be […]
