Section 118

A creditor who has not proved his debt before the declaration of any dividend shall not be entitled to disturb, by reason that he has not participated in it, the distribution of that dividend or any other dividend declared before his debt was proved.

When a creditor has proved his debt, he shall be entitled to be paid out of any money for the time being available for the payment of any further dividend, any dividend or dividends which he has failed to receive.

Any dividend or dividends payable under subsection (2) shall be paid before that money is applied to the payment of any such further dividend.