sec.136Protection of trustee distributing after closing day

sec.136 Protection of trustee distributing after closing day

A trustee who gives notice under section 135 of the trustee’s intention to distribute trust property— may, after the closing day, distribute the trust property having regard only to the claims, whether formal or not, of which the trustee has notice at the time of the distribution; and is not liable, in respect of any of the trust property distributed after the closing day, to any person of whose claim the trustee had no notice at the time of the distribution. If the trustee gives more than 1 notice under section 135 , a reference in subsection (1) to the closing day is a reference to the latest in time of the closing days stated in the notices. For subsection (1) (a) , it does not matter whether the trustee has notice of a claim because the claim has been made in response to the notice given under section 135 or has otherwise come to the trustee’s notice. This section does not affect the right of any person to enforce a remedy for the person’s claim against a person to whom a distribution of any of the trust property has been made. See division 3 in relation to remedies for the wrongful distribution of trust property. Subsection (4) does not limit section 144 or any other defence available, under an Act or at law or in equity, to the person to whom the distribution is made. In this section— closing day see section 135 (1) (a) . (sec.136-ssec.1) A trustee who gives notice under section 135 of the trustee’s intention to distribute trust property— may, after the closing day, distribute the trust property having regard only to the claims, whether formal or not, of which the trustee has notice at the time of the distribution; and is not liable, in respect of any of the trust property distributed after the closing day, to any person of whose claim the trustee had no notice at the time of the distribution. (sec.136-ssec.2) If the trustee gives more than 1 notice under section 135 , a reference in subsection (1) to the closing day is a reference to the latest in time of the closing days stated in the notices. (sec.136-ssec.3) For subsection (1) (a) , it does not matter whether the trustee has notice of a claim because the claim has been made in response to the notice given under section 135 or has otherwise come to the trustee’s notice. (sec.136-ssec.4) This section does not affect the right of any person to enforce a remedy for the person’s claim against a person to whom a distribution of any of the trust property has been made. See division 3 in relation to remedies for the wrongful distribution of trust property. (sec.136-ssec.5) Subsection (4) does not limit section 144 or any other defence available, under an Act or at law or in equity, to the person to whom the distribution is made. (sec.136-ssec.6) In this section— closing day see section 135 (1) (a) .

• (a) may, after the closing day, distribute the trust property having regard only to the claims, whether formal or not, of which the trustee has notice at the time of the distribution; and