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Article 57 Estimate of value of debt

Original text. Later amendments are not shown.

(1)

The SMCL administrator must estimate the value of any debt which, by reason of its being subject to any contingency or for any other reason, does not have a certain value; and the SMCL administrator may revise any estimate previously made, if the SMCL administrator thinks fit by reference to any change of circumstances or to information becoming available.

(2)

The SMCL administrator must inform the creditor as to the estimate under paragraph (1) and any revision of it.

(3)

Where the value of a debt is estimated under this Rule, the amount provable in the SMCL administration in the case of that debt is that of the estimate for the time being.