This is a formal Notice of the Liquidator’s intention to declare a dividend which is published in the Gazette and newspaper not more than two (2) months before the Liquidator actually declares a dividend.  At the same time, the Liquidator must give notice to the creditors mentioned in the statement of affairs who have not proved their debts.

• The Notice must contain the latest date by which all creditors mentioned in the statement of affairs must submit/lodge their Form 55 – Proof of Debt in order to be considered for payment of dividend. This date shall not be less than 14 days from the date of the Notice. (Winding Up Rule 100)
• Creditors who have not submitted/lodged a Form 55 – Proof of Debt by the date specified in the Notice shall not share in the first distribution. (Winding Up Rule 100)
• Creditors whose Form 55 – Proof of Debt are submitted and admitted after the date specified in the Notice will be paid the amounts due to them on the next distribution date.