THE HONGKONG GOVERNMENT GAZETTE, 30тп APRIL, 1864.
173
sum to be paid in re-
and if any sum shall have been really and bond fide paid, by, or on behalf of such Court may order any apprentice to the Bankrupt, as an apprentice fec, the Court may upon proof thereof, spect of apprentice order any sum to be paid out of the Estate of the said Bankrupt to, or for the use of fees. such Apprentice, which the Court shall think reasonable, regard being had, in estimating such sum, to the amount of the sum so paid by or on behalf of such Apprentice, and to the time during which such Apprentice shall have resided with the Bankrupt previous to the filing of such Petition.
CXXV. Where there has been mutual credit given by the Bankrupt and any other person, or where there are mutual debts between the Bankrupt and any other person, the Court shall state the account between them, and one debt or demand may be set against another, notwithstanding any prior act of Bankruptcy committed by such Bankrupt, before the credit given to or the debt contracted by him; and what shall appear due on either side on the balance of such account, and no more shall be claimed or paid on either side respectively; and every debt or demand hereby made provable against the estate of the Bankrupt, may also be set off in manner aforesaid against such estate, provided the person claiming the benefit of such set-off, had not when such credit was given, notice of an act of Bankruptcy by such Bankrupt committed.
CXXVI. Any person who shall have given credit to the Bankrupt upon valuable consideration for any money or other matter or thing whatsoever which shall not have become payable when such Bankrupt committed an act of Bankruptcy, and whether such credit shall have been given upon any Bill, Bond, Note, or other negotiable security, or not, shall be entitled to prove such Debt, Bill, Bond, Note, or other security as if the same was payable presently, and receive dividends equally with the other creditors, deducting only thereout a rebate of interest for what he shall so receive at the rate of Twelve per centum per annum, to be computed from the declaration of a dividend to the time such debt would have become payable according to the terms upon which it was contracted.
CXXVII. Any person who at the time of filing a Petition for Adjudication, shall be surety or liable for any debt or demand of the Bankrupt, provable under this Ordinance, or bail for the Bankrupt, either to the Sheriff or to the Action, if he shall have paid the debt or demand or any part thereof in discharge of the whole debt or demand, (although he may have paid the same after the filing of the Petition for Adjudication) if the Creditor shall have proved his debt or demand under the Bankruptcy, shall be entitled to stand in the place of such creditor as to the dividends and all other rights under the bankruptcy which such creditor possessed or would be entitled to in respect of such proof: or if the Creditor shall not have proved, such surety or person liable, or bail, shall be entitled to prove his demand in respect of such payment as a debt under the bankruptcy, not disturbing the former dividends, and may receive dividends with the other Creditors, although he may have become surety, liable, or bail as afore- said, after an act of bankruptcy committed by the Bankrupt: provided that such person had not when he became such surety or bail, or so liable as aforesaid, notice of any act of bankruptcy by such Bankrupt committed.
Mutual debts and
credits may be set off notwithstanding prior act of Bankruptcy.
Deeds not payable
at the time of the Bankruptcy may be
proved, deducting re-
bate of interest.
Sureties and persons
liable for the debts of a Bankrupt may prove
after having paid such
debt.
Bonds, and assured in
assurance
loss to prove.
CXXVIII. The Obligee in any Bottomry or Respondentia Bond, and the assured Obligees in Bottom- in any Policy of Insurance made upon good and valuable consideration, shall be ad- or Respondentia mitted to claim, and, after the loss or contingency shall have happened, to prove, his policy of debt or demand in respect thereof and receive dividends with the other Creditors, as if after led to claim and, the loss or contingency had happened before the filing of the petition for adjudication against the Obligor or Insurer: and the person effecting any Policy of Insurance upon any ship or goods with any person, (as a Subscriber or Underwriter) having become or becoming Bankrupt shall be entitled to prove any loss to which such Bankrupt shall be liable in respect of such subscription, although the person so effecting such Policy was not beneficially interested in such ship or goods, in case the person so interested is not within the Colony.
Persons effecting Insurance admitted to prove luss.
admitted to prove.
CXXIX. Any Annuity Creditor of any Bankrupt by whatever Assurance his Annuity Creditors Annuity be secured, and whether there be or be not any Arrears of such Annuity due at the time of the bankruptcy, shall be entitled to prove for the value of such Annuity, which value the Court shall ascertain regard being had to the original price given for such Annuity, deducting therefrom such diminution in the value thereof as shall have been caused by the lapse of time since the grant thereof to the time of the filing of the petition for adjudication.
CXXX. No
person
Sureties for payment of annuities granted
entitled to any Annuity granted by any Bankrupt, shall sue any person who may be collateral surety for the payment of such Annuity, until such by Bankrupt, in what
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