BANKRUPTCY ACT

Section 65: Joint and separate dividends.

1979Section 65 of 143Federal Republic of Nigeria

(1) Where one partner of a firm is adjudged bankrupt, a creditor to whom the bankrupt is indebted jointly with the other partners of the firm, or any of them, shall not receive any dividend out of the separate property of the bankrupt until all the separate creditors have received the full amount of their respective debts.
(2) Where joint and separate properties are being administered, dividends of the joint and separate properties shall, unless otherwise directed by the Court on the application of any person interested, be declared together and the expenses of and incidental to such dividends shall be fairly apportioned by the trustee between the joint and separate properties, regard being had to the work done for and the benefit received by each property.

Cite this section

Section 65, BANKRUPTCY ACT (1979).

https://repo.podus.ai/laws/bankruptcy-act/section/65/