57
In forcePayment of debts in the case of insolvent estates
Part 5Administration
Division 2Administration of assets
57 Payment of debts in the case of insolvent estates
Where the estate of a deceased person is insolvent—
(a)
the funeral, testamentary and administration expenses have priority; and
(b)
subject as aforesaid and to this Act, the same rules 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, and as to the priorities of debts and liabilities as may be in force for the time being under the law of bankruptcy with respect to the administration of estates of deceased persons in bankruptcy.
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