Section 339 of Insolvency Act CAP 53: Claims of creditors when summary instalment has effect

    

(1) A creditor who has proved the creditor's debt to the satisfaction of the supervisor is entitled to be included as a creditor in the administration of the debtor's estate under the summary instalment order for the amount of the debt.
(2) A creditor may object to the supervisor's acceptance or rejection of any creditor's claim by applying to the Official Receiver.
(3) If a creditor objects under subsection (2), the Official Receiver may give any directions that the Official Receiver considers appropriate as to the acceptance or rejection of the claim.
(4) A person who becomes a creditor of the debtor after the order has been made, and who proves a debt before the supervisor, may elect to be included in the administration of the debtor's estate.
(5) If such a person so elects, the person may be paid a dividend under the order only after the creditors who became creditors of the debtor before the order was made and who have been included as a creditor in the administration have been paid under the order.


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

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