CTHRepealedAct
Bankruptcy Act 1924
Secured creditors.Secured creditors.
Start here
Get a plain-English read of Secured creditors.
Turn the raw legal text into a practical explanation grounded in Bankruptcy Act 1924.
### Secured creditors.
(h) Every creditor, for the purpose of this section, shall be accounted a creditor for value for such sum only as upon an account fairly stated, after allowing the value of securities or liens held by him, and the amount of any debt or set-off owing by him to the debtor, appears to be the balance due to him;