A suit or action which may be pending against an executor or administrator at the time the estate is reported insolvent shall not, on that account, abate, but may be prosecuted to final judgment. The judgment shall constitute a claim against the estate, if probated and registered as other claims, but shall not have priority over general creditors. If any such suit be undetermined when the claims are to be examined and allowed by the court and the distributive shares ascertained and declared, such examination and allowance may be postponed until the suit be finally determined, or the validity of the claims sued on may be determined by the chancery court.