Article 5.26 Individual notices to creditors etc of intended dividend or distribution

Where the education administrator intends to make a distribution to creditors or declare a dividend, the education administrator must deliver a notice of that intention to all the creditors in the education administration.

Where the intended dividend is only for preferential creditors, the education administrator is only required to deliver such a notice to the preferential creditors.

Where the education administrator intends to declare a dividend to unsecured creditors, the notice must also state the value of the prescribed part or that the court has made an order under section 176A(5) of the Act.