Valuation of claims against partners for debts of the partnership
5(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.