before the make of the follow Act if a obligor in a bottomry bind become  bankrupt before the return of the ship and the ship do not return before the  distribution make the obligee can not have the benefit of the distribution  upon the Commission hold per king c mich ex part caswell ex part Cazalet ex  part Bateman will Rep but now by the statute of the Geo recite that whereas  merchant and other trader frequent lend money on bottomry or at respondentia  and in the course of their Trade frequent cause their ship or vessel and the  good and merchandise load thereon to be insure and where commission of  bankruptcy have issue against the obligor in such bottomry or respondentia  bind or the Underwriter or assurer in such assurance before the loss of the  ship or good in such bind or policy of insurance mention have happen it have  be make a question whether the obligee or oblige in such bind or the assure in  such policy of insurance shall be let in to prove their debt or be admit to  have any benefit or dividend under such equity case abridge Commission which  may be a discouragement to Trade it be enact that from and after the that day  of October the obligee in any bottomry or respondentia bind and the assure in  any policy of insurance make and enter into upon a good and valuable  consideration good fide shall be admit to claim and after the loss or  contingency shall have happen to prove his her or their debt and demand in  respect of such bind or policy of insurance in like manner as if the loss or  contingency have happen before the time of the issue of the Commission of  bankruptcy against such obligor or insurer and shall be entitle unto and shall  have and receive a proportionable part share and dividend of such bankrupt  estate in proportion to the other creditor of such bankrupt in like manner as  if such loss or contingency have happen before such Commission issue and all  and every person or person against who from and after the say that day of  October any Commission of bankruptcy shall be award shall be discharge of and  from the debt or debt owe by he her or they on every such bind and policy of  insurance as aforesaid and shall have the benefit of the several statute now  in force against bankrupt in like manner to all intent and purpose as if such  loss or contingency have happen and the money due in respect thereof have  become Payable before the time of the issue of such Commission it be object  that the bind will be bar after the bankrupt certificate allow which can not  be unless it be to be look upon as then due say per cur this can be if the  obligee be careful in declare upon this bind indeed if the party declare upon  the bind only he shall be bar by if he set forth as well the condition as the  bind in the declaration for then it must appear that the Cause of action do  not accrue at the time of the obligor become a bankrupt ibidem