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Section 252 of Insolvency Act CAP 53: Final distribution of bankrupt's estate

    

(1) On realising the bankrupt's estate or so much of it as can be realised without needlessly protracting the bankruptcy trusteeship, the bankruptcy trustee shall give notice either—
(a) of an intention to declare a final dividend; or
(b) that no dividend, or further dividend, will be declared.
(2) The bankruptcy trustee shall include in the notice the prescribed information and a statement that requires all claims against the bankrupt's estate to be established by a final date specified in the notice.
(3) The Court may, on the application of any person, the Court may make an order postponing the final date.
(4) After the final date, the bankruptcy trustee shall—
(a) pay any outstanding expenses of the bankruptcy out of the bankrupt's estate; and
(b) if the bankruptcy intends to declare a final dividend, declare and distribute that dividend without regard to the claim of any person in respect of a debt not already proved in the bankruptcy.
(5) After paying the interest referred to in section 238 and paying in full the claims referred to in section 237, the bankruptcy trustee shall pay any surplus to the bankrupt.
(6) Subsection (5) is subject to section 214.

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Disclaimer: This document is not to be taken as legal advise.

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