7 Guam Code Ann. § 50051
Terms Used In 7 Guam Code Ann. § 50051
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
Debtor.
Upon receiving and filing the petition with the schedule and documents mentioned in the next preceding section, the court shall make an order calling a meeting of creditors to take place in not less than two (2) weeks
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7 Guam Code Ann. CIVIL PROCEDURE
CH. 50 INSOLVENCY LAW
nor more than three (3) months from the date of such order. This order shall designate the day, hour, and place of meeting of the creditors. The order shall be published by the means authorized for the publication of service and notices and for such periods as may be prescribed by the court. It shall contain an injunction forbidding the petitioning debtor from disposing of his property in any manner, except insofar as concerns the ordinary operations of commerce or of the industry in which the petitioner is engaged, and, further, from making any payments outside the necessary or legitimate expenses of his business or industry, so long as the proceedings relative to the suspension of payments are pending. For the purposes of this law said proceedings shall be considered to have been instituted from the date of the filing of the petition.
SOURCE: CCP § 1286.