Rule 14.45 C1
No action lies against the office-holder in an administration or winding up for payment of a dividend.
However, if the office-holder refuses to pay a dividend the court may, if it thinks just, order the office-holder to pay it and also to pay, out of the office-holder's own money—
interest on the dividend, at the rate for the time being specified in section 17 of the Judgments Act 1838 M1, from the time when it was withheld; and
the costs of the proceedings in which the order to pay is made.
Annotations
Marginal citations
- M1
Section 17 has been amended by the Statute Law Revision (No 2) Act 1888 (c.57), article 2 of S.I. 1993/564, article 3 of S.I. 1998/2940, Part 1 of the Schedule to the Civil Procedure Acts Repeal Act 1879 (c.59) and article 3(c) of S.I. 1998/3132.
Modifications
- C1
Rules 14.37-14.45 applied (with modifications) (19.3.2024) by The Water Industry (Special Administration) (England and Wales) Rules 2024 (S.I. 2024/229), rules 1, 5, 109-113, Sch. (with rule 2(2))