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Insolvency Act 1986
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Insolvency Act 1986, Section 322 is up to date with all changes known to be in force on or before 01 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Section 322:
- Act savings and transitional provisions for amendments by S.I. 2022/1166 by S.I. 2022/1172 Regulations
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- Act savings and transitional provisions for amendments by S.I. 2022/1166 by S.I. 2022/1172 Regulations
322 Proof of debts. E+W
(1)Subject to this section and the next, the proof of any bankruptcy debt by a secured or unsecured creditor of the bankrupt and the admission or rejection of any proof shall take place in accordance with the rules.
(2)Where a bankruptcy debt bears interest, that interest is provable as part of the debt except in so far as it is payable in respect of any period after the commencement of the bankruptcy.
(3)The trustee shall estimate the value of any bankruptcy debt which, by reason of its being subject to any contingency or contingencies or for any other reason, does not bear a certain value.
(4)Where the value of a bankruptcy debt is estimated by the trustee under subsection (3) or, by virtue of section 303 in Chapter III, by the court, the amount provable in the bankruptcy in respect of the debt is the amount of the estimate.
Modifications etc. (not altering text)
C1S.322 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II
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