the-ordinances-of-the-legislative-counci-1890 — Page 656

620 ORDINANCE No. 5 OF 1864 .


Bankruptcy and Insolvency.


claim, and future, or whereby, or by reason or on breach whereof respectively he
after contin
gency has shall or may become liable, either absolutely or contingently, to pay
happened
and the de any money or damages , either liquidated or unliquidated , and either then
mand been
ascertained. or at some future time or times , and the demand in respect thereof shall
demand may
be proved. 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 provi

sion 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 ifhe think fit apply
to be admitted 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 contingency 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 expira
tion of such time if the Court shall think fit , be expunged either in
whole or in part from the proceedings .


On bankrupt 133. If any agent intrusted with the possession of goods within
ey of agent
intrusted with the meaning of an Act of the Imperial Parliament passed in the Session
goods, but
which have holden in the fifth and sixth years of the reign of Her present Majesty
been pledged
byhim, owner intituled " An Act to amend the Law relating to advances bonâ fide made
may prove for
amount paid to Agents intrusted with goods , " shall have become bankrupt, the owner
to redeem, or
for value, if of any goods so intrusted to such agent, and which shall have been
the goods be
unredeemed. 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 bankruptcy, 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.