BANKRUPTCY ACT 1966

PART VI - ADMINISTRATION OF PROPERTY  

Division 5 - Distribution of property  

SECTION 147   NO ACTION FOR DIVIDEND  

147(1)   [Court may order trustee to pay dividend]  

An action for a dividend does not lie against the trustee of the estate of a bankrupt but, if the trustee neglects or refuses to pay a dividend to a creditor, the Court, on the application of the creditor, may, if it thinks fit, order the trustee to pay the dividend and may also order that the trustee pay interest on the dividend for the time that it is withheld and the costs of the application.

147(2)   [Trustee personally liable]  

Where the Court orders the trustee of the estate of a bankrupt to pay interest on a dividend or to pay the costs of an application under subsection (1), the trustee is personally liable for, and is not entitled to be reimbursed by the estate in respect of, the payment of that interest or those costs.




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