JUDGMENT

Abbott J:

The plaintiffs and the defendant are money-lenders carrying on business in Penang. They commenced having business dealings with each other in February 1939 and continued to have such business dealings until August 1945 when they came to an end. The nature of those business dealings, as disclosed in the Statement of Claim, was that they operated a current account between themselves upon the basis of loan with interest; the agreed statement of accounts shows that the defendant drew upon the account from time to time and, from time to time, he paid money into it. On 15 February 1942 (the day upon which the Japanese occupation of Malaya began - see the definition of "occupation period" in s. 2(1) of the Debtor and Creditor (Occupation Period) Ordinance, No. 42 of 1948) the defendant was indebted to the plaintiffs in the sum of $49,900. The plaintiffs claim this sum from the defendant on the ground that it is an unsatisfied pre-occupation debt to which the provisions of s. 8 of the Ordinance apply. As I have already pointed out the account continued to be operated during the occupation period; and the statement of accounts shows that on 2 January 1943 the defendant was