Insolvency law distinction limits Ex parte Learoyd: adjudication orders under the Provincial Insolvency Act were not governed by that rule.

The principle in Ex parte Learoyd was held inapplicable to adjudication orders under the Provincial Insolvency Act because that statute differs materially from the Presidency Towns Insolvency Act and the Bankruptcy Act, 1869. Under the Provincial Insolvency Act, publication of the adjudication order in the Official Gazette is not conclusive evidence of the facts stated, adjudication relates back only to the date of presentation of the petition, and a fraudulent transfer must be annulled by a direct court order. Those differences removed the foundation for extending the earlier rule, and the revision petition was dismissed with costs.

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Issues: Whether the principle in Ex parte Learoyd applied to adjudication orders under the Provincial Insolvency Act.

Analysis: The Provincial Insolvency Act differs materially from the Presidency Towns Insolvency Act and the Bankruptcy Act, 1869. Under the Provincial Insolvency Act, publication of the adjudication order in the Official Gazette is not made conclusive evidence of the facts stated therein, the order of adjudication relates back only to the date of presentation of the petition, and a fraudulent transfer must be annulled by a direct order of the Court. These differences remove the foundation on which the rule in Ex parte Learoyd rested.

Conclusion: The principle in Ex parte Learoyd does not apply to adjudication orders under the Provincial Insolvency Act.

Final Conclusion: The revision petition failed and was dismissed with costs because the Privy Council ruling could not be extended to the Provincial Insolvency Act.

Ratio Decidendi: A precedent based on the conclusive evidentiary effect and true relation-back scheme of one insolvency statute cannot be applied to another insolvency statute that contains materially different provisions on publication, relation back, and avoidance of fraudulent transfers.

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