614
Right of creditor proving after dividend.
c. 52, s. 61.
No. 7 of 1891.
BANKRUPTCY.
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.
Final dividend.
46 & 47 Vict.
First Schedule.
Form No. 21.
55. When the trustee has realised all the property of the bankrupt or so much thereof as can be realized without needlessly protracting the trusteeship, he shall declare a final dividend, which dividend 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 any part thereof is paid: Provided that the court may, on the application of any such creditor, postpone the payment of such dividend or part of it for such time as may be reasonably necessary for such creditor to establish his claim.
Barring of action for dividend.
56. No action for a dividend shall lie against a trustee, but if the trustee refuses to pay any dividend the court may, if it thinks fit, order him to pay it, and also to pay out of his own money interest thereon for the time that it is withheld and the costs of the application.
c. 52, s. 63.
Employment of and allowance to bankrupt.
57.-(1) The trustee, with the permission of the committee of inspection or of the court, may appoint the bankrupt himself to superintend the management of the property of the bankrupt or any part thereof or to carry on the trade, if any, of the bankrupt for the benefit of his creditors.
c. 52, s. 64.
46 & 47 Vict.
614
Right of creditor
proving after dividend.
c. 52, s. 61.
No. 7 of 1891.
BANKRUPTCY.
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 administra- tion 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 46 & 47 Vict. 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.
Final dividend.
46 & 47 Vict.
First Schedule.
Form No. 21.
55. When the trustee has realised all the property of the bankrupt or so much thereof as can be realized without c. 52, s. 62. needlessly protracting the trusteeship, he shall declare a final dividend, which dividend 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 any part thereof is paid: Provided that the court may, on the application of any such creditor, postpone the payment of such dividend or part of it for such time as may be reasonably necessary for such creditor to establish his claim.
Barring of action for dividend.
56. No action for a dividend shall lie against a trustee, but if the trustee refuses to pay any dividend the court may, 46 & 47 Viet. if it thinks fit, order him to pay it, and also to pay out of his own money interest thereon for the time that it is withheld and the costs of the application.
c. 52, s. 63.
Employment of and allowance to bankrupt.
57.-(1) The trustee, with the permission of the com- mittee of inspection or of the court, may appoint the bankrupt himself to superintend the management of the 46 & 47 Vict. property of the bankrupt or any part thereof or to carry on the trade, if any, of the bankrupt for the benefit of his
c. 52, S. 64.
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