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Administration of Insolvent Estates Act

Published: 0000

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Administration of Insolvent Estates (CAP. 7 1



Arrangement of Sections

1. Short title.
2. Specialty and simple contract debts of deceased persons

to stand in equal degree.
3. The law of bankruptcy in certain matters to apply in

administration of deceased's insolvent estate.


(3 1st December, 1887 .)

1. This Act may be cited as the Administration of Short
Insolvent Estates Act.

2. In the administration of the estate of every person Speciality and
ho shall die on or after the first day of July, 1888, no debt $,"b~~of'"~etf,","~ed

liability of such person shall be entitled to any ~riori ty persons to stand
preference by reason merely that the same is secured by in deg"e.
arises under a bond, deed, or other instrument under seal,
is otherwise made or constituted a specialty debt; but all

reditors of such person, as well specialty as simple con-
, shall be treated as standing in equal degree, and be
accordingly out of the assets of such deceased person,

ether such assets are legal or equitable, any statute or
er law to the contrary notwithstanding:


2 CAP. 7) Administration of Insolvent Estates

Provided that this Act shall not prejudice or affect any
lien, charge, or other security which any creditor may hold
or be entitled to for the payment of his debt.

The law of
bankruptcy in

3. In the administration by the Court of the assets of
certain matters to any person who may die after the commencement of this
apply in
administration of

Act, and whose estate may prove to be insufficient for the
deceased's payment in full of his debts and liabilities, the same rules
insolvent estate- shall prevail and be observed as to the respective rights of

secured and unsecured creditors, and as to debts and
liabilities provable, and as to the valuation of annuities and
future and contingent liabilities respectively, as may be in
force for the time being under the law of bankruptcy, with
respect to the estates of persons adjudged bankrupt; and all
persons who, in any such case, would be entitled to prove
for and receive dividends out of the estate of any such deceas-
ed person may come in under the decree or order for the
administration of such estate, and make such claims against
the same as they may respectively be entitled to by virtue
of this Act.