959Interest on debts

959 Interest on debts

(1)  If a judgment directs an account of the debts of a deceased person, unless the estate is insolvent or it is otherwise ordered, interest is to be allowed –

(a) on any debt which carries interest at the rate it carries; and

(b) [Rule 959 Subrule (1) amended by S.R. 2003, No. 142, Applied:03 Dec 2003] on any other debt at the prescribed rate of interest for each calendar year from the date of the judgment.

(2)  A creditor whose debt does not carry interest and who establishes the debt in proceedings under the judgment is, unless otherwise ordered, entitled to interest on the debt in accordance with subrule (1)(b) payable out of any assets which remain after satisfying –

(a) the costs of the proceeding; and

(b) the debts established; and

(c) the interest on those debts which by law carry interest.