Unclaimed Funds/Small Dividends

Rev. 09/30/14

UNCLAIMED FUNDS/SMALL DIVIDENDS

Overview:

Small Dividends (Chapter 7 case) – In a chapter 7 case no dividend in an amount less than $5 shall be distributed by the trustee to any creditor unless authorized by local rule or order of the court.  Any dividend not distributed to a creditor shall be treated in the same manner as unclaimed funds as provided in §347 of the Code.

Small Dividends (Ch. 12 &13 case) – In a chapter 12 or 13 case no payment in an amount less than $15 shall be distributed by the trustee to any creditor unless authorized by local rule or order of the court.  Funds not distributed because of this subdivision shall accumulate and shall be paid whenever the accumulation aggregates $15.  Any funds remaining shall be distributed with the final payment.

Unclaimed Funds -- The trustee shall file a list of all known names and addresses of the entities and the amounts which they are entitled to be paid from remaining property of the estate that is paid into court pursuant to §347(a) of the Code.

 

Codes, Rules and Forms:

Bankruptcy Code:

347

Bankruptcy Rule:

3010 & 3011

Local Rule:

3010-1

Local Form:

None

 

CM/ECF Event(s):

            Batch Filings (Trustee), Report from Trustee re: Unclaimed Funds/Small Dividends