BANKRUPTCY.
No. 7 of 1891.
$639
(3) At least one month before declaring a dividend, the trustee shall cause notice of his intention to do so to be gazetted, and shall also post a notice in writing to each creditor mentioned in the bankrupt's statement who has not proved his debt.
When the trustee has declared a dividend, he shall cause a notice to be gazetted showing the amount of the dividend and when and how it is payable.
52. Where one partner of a firm is adjudged bankrupt, a creditor to whom the bankrupt is indebted jointly with the other partners of the firm or any of them shall not receive any dividend out of the separate property of the bankrupt until all the separate creditors have received the full amount of their respective debts.
[46 & 47 Vict. c. 52 s. 59.]
53.-(1) In the calculation and distribution of a dividend the trustee shall make provision for debts provable in bankruptcy appearing from the bankrupt's statements or otherwise to be due to persons resident in places so distant from the place where the trustee is acting that, in the ordinary course of communication, they have not had sufficient time to tender their proofs or to establish them if disputed, and also for debts provable in bankruptcy the subject of claims not yet determined.
(2) He shall also make provision for any disputed proofs or claims, and for the expenses necessary for the administration of the estate or otherwise, and, subject to the preceding provisions, he shall distribute as dividend all money in hand.
54. A creditor who has not proved his debt before the declaration of any dividend or dividends shall be entitled to be paid, out of any money for the time being in the hands of the trustee, any dividend or dividends which he may have failed to receive before that money is applied to the payment of any future dividend or dividends, but he shall not be entitled to disturb the distribution of any dividend declared before his debt was proved by reason that he has not participated therein.
[ib. s. 61.]
55. When the trustee has realised all the property of the bankrupt or so much thereof as can be realised without needlessly protracting the trusteeship, he shall declare a final dividend, which shall be so specified in the Gazette notice and in the notices to creditors, and any creditor who has not proved shall be excluded from such dividend unless he proves his debt before the dividend or