The law against bankrupts: or, A treatise wherein the statutes against bankrupts are explained by several cases, resolutions, judgments and decrees, both at common law and in Chancery. Together with the learning of declarations and pleading relating thereunto. To which are likewise added forms and directions for commissioners, and presisidents, fit for the perusal of lawyers, or merchants and tradesmen. By T.G. serjeant at law.

CHAP. XIV. (Book 14)

Of Distribution: Notice to Creditors: Of Dividend, and the Form; as al∣so the Form of a Deed of Distribu∣tion.

Of Distribution, Vide prius sub Titul’ Assignment.

THE Commissioners may sell and prepare for Distribution presently upon the execution of the Commission; but till the four Months are past, they may not proceed to Distribution, Hutton, p. 38.

Per Coke and VVinch. 10 Jac. Reeve vers. May, The Commissioners may di∣vide a Debt upon Obligation.

Distribution must be to every one of the Creditors a portion, rate and rate-like, ac∣cording to the quantity of his or their Debt, 2 Rep. 25, 26.

Commissioners ought to make several Distribution to several Creditors, and not to mak a joint-Sale or Assignment to several Creditors: For if he owe to A. 20l.

to B. 20 l. and to C. 5 l. a joint Sale or Assignment to A. B. and C. is not accord∣ing to their power given by the said Act 13 Eliz. but if by the Special Verdict it appears that the Debt was due to the Plaintiffs jointly, then the joint Sale is good, 2 Rep. 26.

If a Bankrupt be indebted to one 20 l. and to another 10 l. and he hath a Debt due to him by Bond of 20 l. Now the Commissioners may assign and divide this (viz.) to every Creditor a portion, part and part-like; and the Assignees it seems may sue severally for it, Godb. 195. See Bradshaws Case.

Per Stat. 21 Jac. Judgmentees, Coni∣sees, Attachers, per foreign Aattach∣ment, if there be no Extent sued and ex∣ecuted upon any the Lands, &c. Goods and Chattels of the Bankrupt before the time of his Bankrupcy, shall only have a rateable part with other Creditors for their just Debts, Vide Prius Cap. 5.

If any Distribution be made of any part of the Estate, no Creditors are to be admitted after, that come not in be∣fore, Hob. 287. vide supra Cap. 6. Fuller and Lance in Chancery.

Notice to Creditors of making a Dividend; upon paying Contribution Mony, and pro∣ving their Debts.

WE whose Names are subscribed, being the major part of Commis∣sioners named and authorised in the Commission of Bankrupt awarded against A. B. of, &c. the Four Months since the the date and suing forth of the said Commission, having been long since elap∣sed and expired; and the Creditors who prosecute the same, having desired that we should proceed to make a Dividend of the Estate by us already discovered and assigned, as by the Statutes we are im∣powred, do therefore by these Presents give fourteen days notice thereof, and that we do intend and appoint to meet for making the said Dividend, on Friday the first day of September next ensuing, by Ten of the Clock in the Forenoon of the same day, at the Irish Chamber in in Guildhall, London; and such Creditors who do intend to come into the said Commission for their respective Debts, are to take care to pursue the directions of the said Statutes, in paying in their Contribution-mony, according to our former Order in this Affair, lest they be excluded the Dividend; and they are also at the same time and place, to come

prepared to make due proof of their re∣spective Debts; dated the 18th day of August, in the fifth year of, &c.