SCHEDULE 2DETERMINATION OF AMOUNT OF CREDITOR'S CLAIM
Valuation of claims against partners for debts of the partnership
I15
1
Where a creditor claims, in respect of a debt of a partnership, against the estate of one of its partners, the creditor must estimate the value of—
a
the debt to the creditor from the firm's estate where that estate has not been sequestrated, or
b
the creditor's claim against that estate where it has been sequestrated,
and deduct that value from the creditor's claim against the partner's estate.
2
The amount in respect of which the creditor is entitled to claim on the partner's estate is the balance remaining after that deduction is made.