Document ID: chunk:federal_register_of_legislation:C2025C00167:section:82:p2
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 82 (pt 2/2)
Character Range: 265271–266336

debt or liability cannot be fairly estimated, the debt or liability shall be deemed not to be provable in the bankruptcy.
 (7) If the Court finds that the value of the debt or liability can be fairly estimated, the Court shall assess the value in such manner as it thinks proper.
 (8) In this section, liability includes:
 (a) compensation for work or labour done;
 (b) an obligation or possible obligation to pay money or money's worth on the breach of an express or implied covenant, contract, agreement or undertaking, whether or not the breach occurs, is likely to occur or is capable of occurring, before the discharge of the bankrupt; and
 (c) an express or implied engagement, agreement or undertaking, to pay, or capable of resulting in the payment of, money or money's worth, whether the payment is:
 (i) in respect of amount—fixed or unliquidated;
 (ii) in respect of time—present or future, or certain or dependent on a contingency; or
 (iii) in respect of the manner of valuation—capable of being ascertained by fixed rules or only as matter of opinion.