Guam § 50207 - Power of Assignee.

§ 50207. Power of Assignee.

The said assignee shall have power:

1. To sue and recover all the estate, assets, debts, and claims,

belonging to or due to such debtor; and no set-off or counterclaim shall

be allowed in any such suit for debts contracted by the insolvent within

thirty (30) days immediately preceding the filing of the petition of

insolvency except in case of creditors specified in § 50252 of this

Chapter.

2. To take into his possession all the estate of such debtor, except

property exempt by law from execution, whether attached or delivered

to him, or afterwards discovered, and all books, vouchers, evidence of

indebtedness, and securities belonging to him.

3. In case of a nonresident or absconding or concealed debtor, to

demand and receive of every commissioner who shall have attached

any of the property of such debtor, or who shall have in his possession

any moneys arising from the sale of such property and moneys, on

paying his lawful costs and charges for attaching and keeping them.

4. From time to time to sell at public auction after advertisement

in the manner provided by subsections 1, 2, and 3 of § 23113 of this

Title, upon order of the court, any of the estate, real and personal,

which has come into his possession and which is vested in him as such

assignee, and on such sales to execute the necessary conveyances and

bills of sale.

5. To redeem all valid mortgages and conditional contracts, and

all valid pledges of personal property, and to satisfy any judgments

which may be an encumbrance on any property sold by him or to sell

such property, subject to such mortgage, contract, pledges, judgments,

or liens.

6. To settle all matters and accounts between such debtor and his

debtors, subject to the approval of the court.

7. Under the order of the court or judge appointing him, to

compound with any person indebted to such debtor, and thereupon

discharge all demands against such persons.

COL120106

8. To recover from any person receiving a conveyance, gift,

transfer, payment, or assignment, made contrary to any provision of

this Title, the property thereby transferred or assigned; or in case a

redelivery of the property cannot be had, to recover the value thereof,

with damages for the detention.