Bankruptcy Act, 1988
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Debts provable in bankruptcy and arrangements. (cf. 1857, ss. 247, 249, 252 to 258; 1872, ss. 45-47) |
75.—(1) Debts and liabilities, present or future, certain or contingent, by reason of any obligation incurred by the bankrupt or arranging debtor before the date of adjudication or order for protection and claims in the nature of unliquidated damages for which the bankrupt or arranging debtor is liable at that date by reason of a wrong within the meaning of the Civil Liability Act, 1961 , shall be provable in the bankruptcy or arrangement. | |
(2) Where interest or any pecuniary consideration in lieu of interest is reserved or agreed for on a debt which is overdue at the date of adjudication, the creditor shall be entitled to prove or be admitted as a creditor for such interest or consideration up to the date of adjudication. | ||
(3) Where all necessary parties agree, an order for assessment of damages or contribution under section 61 (2) of the Civil Liability Act, 1961 , may be made by the Court, notwithstanding that it may not be the court by or before which the claim for damages or contribution falls to be determined. | ||
(4) An estimate may be made by the Court of the value of any debt which, by reason of it being subject to any contingency or for any other reason, does not bear a certain value and the amount of the estimate shall be proved as a debt. |