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IRISH BANKRUPT AND INSOLVENT ACT 1857 - SECT 258

Contingent liabilities of bankrupt.

258. If any bankrupt or insolvent shall, before the filing of a
petition of bankruptcy, or insolvency, have contracted bona fide a liability
to pay money upon a contingency which shall not have happened, and the demand
in respect thereof shall not have been ascertained before the filing of such
petition, in every such case, if such liability be not provable under any
other provision of this Act, the person with whom such liability has been
contracted shall be admitted to claim for such sum as the Court shall think
fit; and after the contingency shall have happened, and the demand in respect
of such liability shall have been ascertained, he shall be admitted as a
creditor for such demand, and receive dividends with the other creditors, and
so far as practicable, as if the contingency 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
such petition, it may, upon the application of the assignees, at any time
after the expiration of such time, and if the Court shall think fit, be
expunged either in whole or in part from the proceedings.][

© 1857 Crown Copyright

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