Statement I: If there is co-ownership and one of t he co-owners is the insolvent debtor, his undivided share or interest in the property shall be possessed by the assignee in insolvency preceedings....

Statement I: If there is co-ownership and one of t he co-owners is the insolvent debtor, his undivided share or interest in the property shall be possessed by the assignee in insolvency preceedings.

Statement II: Property held by an insolvent debtor as a trustee shall be included in insolvence proceedings.


a. Both statement are correct

b. Both statement are incorrect

c. Only Statement I is correct

d. Only statement II is correct