BAN-1 FORM 21 FORM 21 ASSIGNMENT FOR THE GENERAL BENEFIT OF CREDITORS (Corporation of other Legal Entity) (Section 49 of the Act) (Title Form 1)
This indenture made this _____ day of ____________ _____ Between _______________________________________________________________________ (Insert the name of the debtor) hereinafter called "the debtor" and _______________________________________________________________________ (Trustee) hereinafter called "the trustee." Whereas the debtor is insolvent and desires to assign and to abandon all his or her property for distribution among his or her creditors, in pursuance of the Act. This indenture witnesses that the debtor does hereby assign to the trustee, all the debtor's property for the uses, intents and purposes provided by the Act. Signed at _____________________, in the Province of __________________________________, in the presence of _____________________________________________________.
_______________________ Witness
_______________________ Date
________________________ Debtor (or Legal Representative of the Debtor)
Note:
Where the debtor is a corporation, a certified copy of the resolution of the board of directors shall be attached to this document. Where the debtor is deceased, attach a copy of the court order.