Unproven creditor claims: entitlement to available distributable funds but cannot alter earlier declared dividend distributions. The right of a creditor who has not proved his debt before declaration of a dividend is limited to payment out of any money then in the hands of the Liquidator available for distribution of dividend; he is entitled to any dividend he failed to receive before that money is applied to payment of future dividends, but he shall not be entitled to disturb any dividend declared before his debt was proved.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Unproven creditor claims: entitlement to available distributable funds but cannot alter earlier declared dividend distributions.
The right of a creditor who has not proved his debt before declaration of a dividend is limited to payment out of any money then in the hands of the Liquidator available for distribution of dividend; he is entitled to any dividend he failed to receive before that money is applied to payment of future dividends, but he shall not be entitled to disturb any dividend declared before his debt was proved.
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