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Commentary

93 Liquidated sum

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

93 Liquidated sum

| Commentary

93 Liquidated sum

To be liquidated, the sum of money must be a specific amount which has been fully and finally ascertained1. A claim for damages is not a petition debt, because the sum claimed is unliquidated.

Similarly, it seems, a restitutionary claim is unliquidated, thus a claim by a company that its employee has stolen money is either a claim for damages or a claim for an account, and is not a petition debt2. Whether a claim arising under a contract of guarantee is liquidated in circumstances where the creditor has not demanded payment from, or fully exhausted his claims

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