Bankruptcy (Scotland) Act 2016

176 Dividend payments

(1) If the funds of the debtor’s estate are sufficient, the trustee must pay a dividend out of it to the creditors no later than 6 weeks after the end of—

(a) a first dividend period of 24 months beginning with the date on which the trust deed is granted, and

(b) any subsequent dividend period of 6 months beginning with the end of the previous dividend period.

(2) The funds of the debtor’s estate are “sufficient” if, after—

(a) deduction of the trustee’s fees and of any outlays payable under this Part, and

(b) making allowance for future contingencies,

a dividend may be paid to the creditors amounting to at least 5 pence for each pound sterling of the debtor’s debt, as at the date of protection, under the trust deed.