174
the Bankruptcy.
THE HONGKONG GOVERNMENT GAZETTE, 30TH APRIL, 1864.
manner to come under annuitant shall have proved against such Bankrupt's estate for the value of such Annuity and for the Arrears thereof; and if such surety, after such proof, pay the amount proved, he shall thereby be discharged from all claims in respect of such Annuity; and if such surety shall not (before any payment of the Annuity shall have become due after the bankruptcy) pay the sum so proved, he may be sued for the accruing payments of such Annuity until the annuitant shall have been paid or satisfied, the amount so proved, with interest thereon at the rate of Twelve per centum per annum from the time of notice of such proof, and of the amount thereof, being given to such surety; and after such payment or satisfaction, such surety shall stand in the place of such annuitant, in respect of such proof, to the amount so paid or satisfied by such surety, and the dis- charge of such Bankrupt, shall be a release to him, from all claims of such annuitant, or of such surety in respect of such Annuity; provided that such surety shall be entitled to credit, in account with such annuitant, for any dividends received by such annuitant under the bankruptcy, before the surety shall have fully paid or satisfied the amount so proved.
Debt contingent at
of the petition to be
thereof ascertained by
CXXXI. If any Bankrupt shall, before the filing of a petition for adjudication, the time of the filing have contracted any debt payable upon a contingency which shall not have happened proveable for the value before the filing of such petition, the person with whom such debt has been contracted the Court, or if value may, if he think fit, apply to the Court to set a value upon such debt, and the Court is not ascertained before hereby required to ascertain the value thereof, and to admit such person to prove the the contingency has. amount so ascertained, and to receive dividends thereon or if such value shall not be so happened, then, after the contingency has ascertained before the contingency shall have happened, then such person may, after such contingency shall have happened, prove in respect of such debt, and receive divi- dends with the other Creditors not disturbing any former dividends: provided such person had not, when such debt was contracted, notice of any act of bankruptcy by such Bankrupt committed.
happened, the amount of debt may be proved.
tition may be admitted
pened and the demand
Liability contingent CXXXII. If any Bankrupt shall have incurred or become liable to, or bound by at the filing of the pe- any contract, covenant, or obligation, or subject to any duty, either absolute or upon a to claim, and after contingency respectively, and either present or future, or whereby, or by reason or on contingency has hap- breach whereof respectively he shall or may become liable, either absolutely or contin- been ascertained, de- gently, to pay any money or damages, either liquidated or unliquidated, and either mand may be proved. then or at some future time or times, and the demand in respect thereof shall not have been ascertained before the filing of the petition for adjudication in every such case, if such demand be not provable under any other provision of this Ordinance, the person with or to whom such liability to pay has been contracted or incurred may, if he think fit, apply to the Court to set a value thereon; and the Court is hereby required to ascertain the value thereof, and to admit such person to prove the amount so ascertained and to receive dividends thereon: or such person may if he think fit apply to be admit- ted and shall be admitted to claim for such sum as the Court shall think fit; and after the contingency, if any, shall have happened, and the demand in respect of such liability to pay, shall have been ascertained, he shall be admitted to prove such demand, and receive dividends with the other Creditors, and so far as practicable, as if the contin- gency if any, had happened and the demand had been ascertained before the filing of such petition, but not disturbing former dividends; provided that where any such claim shall not have, either in whole or in part, been converted into a proof within six months after the filing of the petition for adjudication, it may, upon the application of the Assignees at any time after the expiration of such time if the Court shall think fit, be expunged either in whole or in part from the proceedings.
On Bankruptcy of agent intrusted with goods, but which have
amount paid to
if the goods be unre- deemed.
CXXXIII. If any Agent intrusted with the possession of goods within the meaning of an Act of the Imperial Parliament passed in the Session holden in the Fifth and Sixth been pledged by him, years of the Reign of Her present Majesty intituled "An Act to amend the Law relating Owner may prove for*
to advances bonâ fide made to Agents intrusted with goods," shall have become bankrupt, redeem, or for value, the owner of any goods so intrusted to such Agent, and which shall have been redeemed by such owner in manner provided by the said Act after having been pledged by such Agent, shall, in respect of the sum paid by him on account of such Agent for such redemption, be held to have paid such sum for the use of such Agent before his bank- ruptcy, or in case such goods shall not be so redeemed, the owner shall be deemed a Creditor of such Agent for the value of the goods so pledged at the time of the pledge, and shall, if he think fit, be entitled in either of such cases to prove for or set off the sum so paid, or the value of such goods, as the case may be.
Interest upon debts, when proveable,
CXXXIV. Upon every debt or sum certain payable at a certain time or otherwise, whereupon interest is not reserved or agreed for, and 'which shall be overdue at the or agreed for. time of the filing of the petition for adjudication, and provable thereunder the Creditor
though not reserved
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