Lawgist174Distribution of interim dividend
(1) Whenever the bankruptcy trustee has sufficient funds in his hand, he may declare and distribute interim dividend among the creditors in respect of the bankruptcy debts which they have respectively proved.
(2) Where the bankruptcy trustee has declared any interim dividend, he shall give notice of such dividend and the manner in which it is proposed to be distributed.
(3) In the calculation and distribution of the interim dividend, the bankruptcy trustee shall make provision for—
(a) any bankruptcy debts which appear to him to be due to persons who, by reason of the distance of their place of residence, may not have had sufficient time to tender and establish their debts; and
(b) any bankruptcy debts which are subject of claims which have not yet been determined;
(c) disputed proofs and claims; and
(d) expenses necessary for the administration of the estate of the bankrupt.
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- 149 Functions of bankruptcy trustee
- 150 Duties of bankrupt towards bankruptcy trustee
- 151 Rights of bankruptcy trustee
- 152 General powers of bankruptcy trustee
- 153 Approval of creditors for certain acts
- 154 Vesting of estate of bankrupt in bankruptcy trustee
- 155 Estate of bankrupt
- 156 Delivery of property and documents to bankruptcy trustee
- 157 Acquisition of control by bankruptcy trustee
- 158 Restrictions on disposition of property
- 159 After-acquired property of bankrupt
- 160 Onerous property of bankrupt
- 161 Notice to disclaim onerous property
- 162 Disclaimer of leaseholds
- 163 Challenge against disclaimed property
- 164 Undervalued transactions
- 165 Preference transactions
- 166 Effect of order
- 167 Extortionate credit transactions
- 168 Obligations under contracts
- 169 Continuance of proceedings on death of bankrupt
- 170 Administration of estate of deceased bankrupt
- 171 Proof of debt
- 172 Proof of debt by secured creditors
- 173 Mutual credit and set-off
- 174 Distribution of interim dividend
- 175 Distribution of property
- 176 Final dividend
- 177 Claims of creditors
- 178 Priority of payment of debts
