New York Debtor & Creditor Law Section 189 - Distribution of moneys.

189. Distribution of moneys. They shall distribute the residue of the moneys in their hands, among all those who shall have exhibited their claims as creditors, and whose debts shall have been ascertained, in proportion to their respective demands, and without giving any preference to debts due on specialties, as follows:

1. In proceedings under the third and fourth articles of this chapter, among those who were creditors at the time of the execution of the assignment by the insolvent;

2. In proceedings under the fifth article, among those creditors, at whose suit the debtor was imprisoned on execution at the time of his discharge.

Last modified: February 3, 2019