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IRISH BANKRUPT AND INSOLVENT ACT 1857 - SECT 257

Proof of contingent debts.

257. If any bankrupt or insolvent shall, before the filing of a
petition of bankruptcy or insolvency, have bona fide contracted any debt
payable upon a contingency, which shall not have happened before the filing of
such petition, the person with whom such debt has been contracted may, if he
think fit, apply to the Court to set a value upon such debt, and the Court is
hereby required to ascertain the value, and to admit such person as a creditor
for the amount so ascertained, and to receive dividends thereon; or if such
value shall not be ascertained before the contingency shall have happened,
then such person may, after such contingency shall have happened, prove or
shall be admitted as a creditor in respect of such debt, and receive dividends
with the other creditors, not disturbing any former dividends.][

© 1857 Crown Copyright

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