Section 40Part 0 —
Insolvent estates
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Where the estate of any deceased person proves to be insufficient for the payment in full of that person’s debts and liabilities, the same rules shall be applied by the Court as to the respective rights of secured and unsecured creditors and as to the valuation of annuities and future and contingent liabilities respectively as are in force under the law of bankruptcy with respect to the estates of persons adjudged bankrupt and the assets of such estate shall be administered and distributed accordingly.