Amendment status not verified — confirm the current text below against the official source.
Power of Court to decide all questions aristng in insol- vency.-{!) Subject to the provisions of this Act, the Court shall have full power to decide all questions whether of title or priority, or of any nature whatsoever, and whether involving matters of law or of fact, which may arise in any case of insol- vency coming within the cognizance of the Court, or which the Court may deem it expedient or necessary to decide for the purpose of doing complete justice or making a complete distri- bution of property in any such case. (2) Subject to the provisions of this Act and notwith- standing anything contained in any other law for the time being in force, every such decision shall be final and binding for all purposes as between, on the one hand, the debtor and the deb- tor's estate and, on the other hand, all claimants against' him or it and all persons claiming through or under them or any of them. ( 3) Where the Court does not deem it expedient or neces- sary to decide any question of the nature referred to in sub- section ( 1) , but has reason to believe that the debtor has a saleable interest in any property, the Co,urt may without further inquiry sell such interest in such manner and subject to such conditions as it may think fit.