# The Insolvency (Scotland) (Receivership and Winding up) Rules 2018, Article 7.23: Debts depending on contingency


(1) Subject to paragraph (2), the amount which a creditor is entitled to claim is not to include a debt in so far as its existence or amount depends on a contingency.
(2) On an application by the creditor—
(a) to the liquidator; or
(b) if there is no liquidator, to the court,
the liquidator or court must put a value on the debt in so far as it is contingent.
(3) Where under paragraph (2) a value is put on the debt—
(a) the amount in respect of which the creditor is then entitled to claim is to be that value but no more;
(b) where the contingent debt is an annuity, a cautioner may not then be sued for more than that value.
(4) Any interested person may appeal to the court against a valuation under paragraph (2) by the liquidator, and the court may affirm or vary that valuation.

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Source: https://www.legislation.gov.uk/ssi/2018/347/part/7/chapter/4/article/7n23 (the official version)
Page: https://openlegislation.uk/insolvency-scotland-receivership-and-winding-up-rules-2018/part-7/chapter-4/article-7n23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.