66. Final dividend
Feedback & supportWhen the Official Assignee has realised all the property of the bankrupt, or so much thereof as can, in his opinion, be realised without needlessly protracting the proceedings in bankruptcy, he shall declare a final dividend.
property
“property” includes money, goods, things in action, land and every description of property, whether real or personal and whether situate in Singapore or elsewhere; also obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to property as above defined;
Before so doing he shall give notice as prescribed to the persons whose claims to the creditors have been notified to him, but not established to his satisfaction, that if they do not establish their claims to the satisfaction of the court within a time limited by the notice he will proceed to make a final dividend without regard to their claims.
After the expiration of the time so limited, or if the court, on application by any such claimant, grants him further time for establishing his claim, then on the expiration of such further time, the property of the bankrupt shall be divided among the creditors who have proved their debts without regard to the claims of any other persons.