C-25.01 - Code of Civil Procedure

Section 767 Disposition versions

2016-01-01

767. If there are indeterminate or unliquidated claims, the bailiff must reserve a sum sufficient to cover them out of the available moneys; the sum is deposited in a trust account until the claims are determined or liquidated, unless a judge orders otherwise.

If there are conditional claims, the creditors concerned are collocated according to their rank, but the amount of their claims is paid to subsequent creditors whose claims are payable, provided they give security, within the month following notification of the bailiff’s report, for the return of the money when the condition is fulfilled. If the subsequent creditors fail to give security, or if there are no subsequent creditors, the amount is paid to the debtor, on condition of security being given, or, if the debtor fails to give security, to the conditional creditors, on condition of security being given for the return of the money in the event that the condition fails or becomes impossible, and paying interest to the bailiff, who distributes the interest to the creditors or remits it to the debtor after satisfying the creditors.

If there is a hypothecary claim with a term of payment, it becomes due on the sale of the hypothecated immovable, and is collocated accordingly.

2014, c. 1, a. 767.