Administration of deceased bankrupt estate: funeral and testamentary expense claims share priority with secured creditors; surplus paid to representatives. Administration of a deceased bankrupt's estate follows the Chapter V administration and distribution regime; the bankruptcy trustee must consider claims by legal representatives for proper funeral and testamentary expenses, which rank equally with secured creditors under the priority framework, and any surplus after payment of debts, administration costs and interest shall be paid to the legal representatives or dealt with as prescribed.
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.
Administration of deceased bankrupt estate: funeral and testamentary expense claims share priority with secured creditors; surplus paid to representatives.
Administration of a deceased bankrupt's estate follows the Chapter V administration and distribution regime; the bankruptcy trustee must consider claims by legal representatives for proper funeral and testamentary expenses, which rank equally with secured creditors under the priority framework, and any surplus after payment of debts, administration costs and interest shall be paid to the legal representatives or dealt with as prescribed.
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