Section 129 — Bankruptcy and Insolvency Act: May order security to be sold

Where the trustee is dissatisfied with the value at which a security is assessed, the trustee may require that the property the security comprises be offered for sale at such time and on such terms and conditions as may be agreed on between the creditor and the trustee or, in default of such an agreement, as the court may direct. Where a sale under subsection (1) is by public auction the creditor or the trustee on behalf of the estate may bid or purchase. [Repealed, 1992, c. 27, s. 52] The costs and expenses of a sale made under this section are in the discretion of the court.