THE HONGKONG GOVERNMENT GAZETTE, 31ST OCTOBER, 1863.
to the time such debt would have become payable according to the terms upon which it was contracted.
311
liable for the debts of
debt.
CXXX. Any person who at the time of filing a Petition for Adjudication, shall, Sureties and persons be surety or liable for any debt or demand of the Bankrupt, provable under this a Bankrupt may prove Ordinance, or bail for the Bankrupt, either to the Sheriff or to the Action, if he shall after having paid such 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.
ry
Obligees in Bottom-
or Respondentia Bonds, and assured in
admitted to claim and, after loss to prove.
policy of
assurance
Persons effecting
CXXXI. The Obligee in any Bottomry or Respondentia Bond, and the assured in any Policy of Insurance made upon good and valuable consideration, shall be admitted to claim, and, after the loss or contingency shall have happened, to prove his debt or demand in respect thereof and receive dividends with the other Creditors, as if the loss or contingency had happened before the filing of the petition for adjudication against such Obligees or Insurer: and the person effecting any Policy of Insurance upon any Insurance admitted to ship or goods with any person (as a Subscriber or Underwriter) having become or becoming prove loss. 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 bene- ficially interested in such ship or goods, in case the person so interested is not within the Colony.
CXXXII. 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 admitted to prove. 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.
CXXXIII. No person entitled to any Annuity granted by any Bankrupt, shall sue Suretles for payment any person who
of annuities granted be collateral surety may
for the payment of such Annuity, until such
by Bankrupt, in what annuitant shall have proved against such Bankrupt's estate for the value of such Annuity manner to come under and for the Arrears thereof; and if such surety, after such proof, pay the amount proved,
the Bankruptcy. 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 four pounds 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.
thereof ascertained by
CXXXIV. If any Bankrupt shall, before the filing of a petition for adjudication, Debt contingent at have contracted any debt payable upon a contingency which shall not have happened the time of the filing or the petition to be before the filing of such petition, the person with whom such debt has been contracted proveable for the value may, if he think fit, apply to the Court to set a value upon such debt, and the Court is the Court, or if value hereby required to ascertain the value thereof, and to admit such person to prove the not ascertained before amount so ascertained, and to receive dividends thereon or if such value shall not be so happened, then, after ascertained before the contingency shall have happened, then such person may, after the contingency has such contingency shall have happened, prove in respect of such debt, and receive divi- of debt may be proved. dends with the other Creditor: not disturbing any former dividends: provided such
the contingency has
happened, the amount
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