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Section VI. Procedures for Distribution by Court
487. (Which court is to implement distribution)
The court to implement distribution shall be the court of first instance to which the bailiff belongs in the case of execution against movables, and the execution court in other cases.

488. (Preparations for distribution)
1. Upon the arising of any of the grounds described below, the court that is to carry out the distribution shall set a date for distribution and send notice of the date, time and place thereof to the creditors entitled to distribution and to the debtor:

(a) if in a case of execution against movables, the ground for deposit has been extinguished, in a case where there has been a report to a court under Paragraph 1 Article 400 (Deposit by bailiff with the court) or there has been a report under Article 401 (Report to court of first instance);

(b) if in a case of execution against a claim or other property rights, there has been a deposit (payment into court) under Article 412 (Collection Suits), a sale has been carried out pursuant to an order for sale under Article 413 (Ruling ordering sale) or the proceeds of sale have been submitted under Paragraph 2 of Article 414 (Execution of ruling of attachment of right to demand delivery of movables) ;

(c) if in a case of execution against an immovable, there has been payment of the sale price under Paragraph 1 of Article 447 (Payment of the price) or an application under the first sentence of Paragraph 3 of Article 447 (Payment of the price) has been made and a ruling permitting sale has become final and binding; or

(d) if in a case of execution against a vessel, there has been payment of the sale price under Article 479 (Payment of the price).

2. When the date of distribution has been fixed, the court clerk shall send a notice to each creditor to submit within one week, to the court that is to carry out the distribution, a statement of accounts indicating the principal of the claim, the interest until the date of distribution and the amount of execution costs.

489. (Implementation of distribution)
1. The court charged with distribution shall implement distribution in accordance with the distribution schedule in cases prescribed in Paragraph 1 of Article 488 (Preparations for distribution); provided that it shall not be necessary to follow the distribution schedule in cases prescribed in Paragraph 2.

2. If there is only one creditor, or where there are two or more creditors but the amount to be appropriated to distribution is sufficient to satisfy the claim of each creditor and the whole of the execution costs, the court responsible for distribution shall effect distribution to the creditor or creditors and deliver any surplus to the debtor in execution.

3. If after the time for distribution has arrived a document listed in Items (a) to (g) of Paragraph 1 of Article 370 (Stay and cancellation of execution) is filed, and there are creditors entitled to distribution other than the creditor(s) in execution, the court charged with distribution shall effect distribution to such creditors.

4. Even if after the time for distribution has arrived a document listed in Items (a) or (b) of Paragraph 2 of Article 370 (Stay and cancellation of execution) is filed, the court charged with distribution shall carry out distribution to such creditors.

490. (Preparation of distribution schedule)
1. The court responsible for distribution shall prepare a distribution schedule on the date of distribution except as providing in Paragraph 2 of Article 489 (Implementation of distribution).

2. On the date of distribution, the court shall summon the creditors in execution set forth below, together with the debtor(s) in execution:
(a) Execution against movables Creditors prescribed in Article 398 (Scope of creditors entitled to distribution)

(b) Execution against claims and other property rights Creditors prescribed in Article 415 (Scope of creditors eligible for distribution)

(c) Execution against immovables Creditors prescribed in Article 453 (The scope of creditors entitled to distribution)

(d) Execution against vessel Creditors prescribed in Article 486 (The scope of creditors entitled to distribution)

3. For the purpose of preparing the distribution schedule, the court shall examine the creditors and debtor(s) in execution who appear at court on the date of distribution, and shall verify such documentary evidence as can be verified on the spot.

4. The claim principal, the interest and other incidental claims, amount of execution costs, priority of distribution and amount shall be noted alongside the following amounts:

(a) Execution against movables Amount of proceeds of sale of attached articles and amount of money attached

(b) Execution against claims and other property rights Amount to be distributed

(c) Execution against immovables Amount of proceeds of sale
(d) Execution against vessel Amount of sale price
5. The priority and amount of distribution prescribed in Paragraph 4 shall be recorded in accordance with the agreement of all the creditors on the date of distribution, if such agreement is achieved, and in other cases in accordance with the provisions of the Civil Code, Commercial Code or other relevant law.

6. For the purposes of distribution, claims subject to a certain time stipulation which have not matured shall be deemed to have matured.

491. (Objection to entry in distribution table)
1. Any creditor, or any debtor in execution, who is dissatisfied with the claims of creditors or the amounts for distribution noted in a distribution table, may state an objection on the date of distribution.

2. The court responsible for implementing the distribution shall proceed to distribution of that portion of the distribution table to which there is no objection.

3. If a creditor in execution or creditor who has submitted a demand for distribution by virtue of an authenticated copy of enforceable title of execution receives payment of the whole of his/her claim, the debtor in execution may demand that the court clerk deliver up to him/her the authenticated copy of enforceable title of execution submitted by such creditor.

4. Where the case has finished, in circumstances other those described in Paragraph 3, the creditor described therein may demand that the court clerk deliver up to him/her the authenticated copy of enforceable title of execution; provided that if such creditor receives partial payment of his/her claim, the court clerk shall note such amount on the authenticated copy prior to delivering it up.

492. (Suit of objection by creditor who has stated an objection to the contents of a distribution table)
1. A creditor who has stated an objection to any entry in a distribution table shall file a suit of objection to such entry, naming the other party to the motion of objection as the defendant.

2. The court that is to effect the distribution shall have jurisdiction over suits described in Paragraph 1.

3. Unless a creditor who has stated an objection to an entry in a distribution table proves, not later than one week following the date of distribution, that the creditor has filed a suit described in Paragraph 1, the objection shall be deemed to have been withdrawn.

4. If a court finds in its judgment in a suit under Paragraph 1 that the objection is well founded, it shall cancel the distribution table in order that an amended or new distribution table may be prepared.

493. (Suit of objection by debtor in execution to contents of table of distribution)
1. A debtor in execution who has stated an objection to any entry in a distribution table against a creditor holding an authenticated copy of enforceable title of execution shall file a suit of objection to claim, naming the creditor who is the other party to the motion of objection as the defendant.

2. A debtor in execution who has stated an objection to any entry in a distribution table against a creditor who does not hold an authenticated copy of enforceable title of execution shall file a suit of objection to distribution, naming the creditor who is the other party to the motion of objection as the defendant.

3. The court that is to effect the distribution shall have jurisdiction over suits described in Paragraph 2.

4. Unless not later than one week following the date of distribution, a debtor in execution who has stated an objection to an entry in a distribution table proves the filing of a suit described in Paragraph 1 and files an authenticated copy of a decision staying execution by virtue of such suit, or proves the filing of a suit described in Paragraph 2, the objection shall be deemed to have been withdrawn.

5. If the court that is to execute the distribution finds in its judgment under Paragraph 2 that the objection is well founded, it shall cancel the table of distribution in order to amend it or prepare a new table.

494. (Retention of amount of distribution)
1. If any of the following grounds applies to a claim to which a creditor is entitled, the court that is to implement the distribution shall retain such amount:

(a) the claim is subject to a condition precedent or uncertain time stipulation;
(b) the claim belongs to a provisional attachment creditor;
(c) a document listed in Paragraph 2, Item (a) of Article 370 (Stay and cancellation of execution) has been submitted;

(d) an authenticated copy of a decision temporarily enjoining the exercise of a lien, pledge or hypothec relating to the claim has been submitted; and/or

(e) a suit of objection to an entry in a distribution table has been filed under Paragraph 1 of Article 492 (Suit of objection by creditor who has stated an objection to the contents of a distribution table) or Paragraph 2 of Article 493 (Suit of objection by debtor in execution to contents of table of distribution).

2. The court that is to execute the distribution shall retain the amount of distribution to any creditor who fails to appear at the court to receive such distribution.

495. (Implementation of distribution upon confirmation of rights, etc.)
1. If the ground of retention of distribution under Paragraph 1 of Article 494 (Retention of amount of distribution) disappears, the court that is to implement distribution shall proceed to distribute the retained money.

2. Where distribution is to be carried out under Paragraph 1, the court that is to implement distribution shall alter the distribution table even on behalf of creditors who have not stated an objection to an entry in the distribution table in the following cases:

(a) if it is no longer possible to make a distribution to a creditor whose distribution has been retained for a cause described in Items (a) through (d) of Paragraph 1 of Article 494 (Retention of amount of distribution);and/or

(b) if a creditor whose distribution has been retained for a reason described in Item (e) of Paragraph 1 of Article 494(Retention of amount of distribution) loses in a suit of objection to an entry in the distribution table filed by the debtor in execution under Paragraph 2 of Article 493 (Suit of objection by debtor in execution to contents of table of distribution).


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