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IRISH BANKRUPT AND INSOLVENT ACT 1857 - SECT 254

Proofs in cases of marine insurance.

254. 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, or be admitted as a creditor and
receive dividends with the other creditors, as if the loss or contingency had
happened before the filing of the petition of bankruptcy or insolvency against
such obligor or insuror; and the person effecting any policy of insurance upon
ships or goods with any person (as a subscriber or underwriter) having become
bankrupt or insolvent shall be entitled to prove or be admitted as a creditor
for any loss to which such bankrupt or insolvent shall be liable in respect of
such subscription, although the person so effecting such policy was not
beneficially interested in such ships or goods, in case the person so
interested is not within the United Realm.][

© 1857 Crown Copyright

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