General dividends

A number of periods in personal insolvency administrations are outlined by the legislation as to when dividends can be paid and the minimum amount required.

Notice to be given to creditors to lodge Proofs of Debt: at least 21 days before declaration.

Minimum time after declaration before payment of dividend: No time Limit. The dividend may be paid immediately after the end of the lodgement period.

Minimum Dividend: Bankruptcy trustees are not required to pay a dividend under $25.00 to any creditor.