Liability of debtor for unpaid balance of debt in certain cases

Where a debtor makes any arrangement or composition with his creditors under this Act, he shall remain liable for the unpaid balance of any debt which he incurred or increased, or whereof, before the date of the arrangement or composition, he obtained forbearance by any fraud, provided the defrauded creditor has not assented to the arrangement or composition otherwise than by proving his debt and accepting dividends.