ratable distribution
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 314 U.S. 314 - American Surety Co of New York v. Bethlehem Nat Bank of Bethlehem Pa · 1941Most cited · 312 citing opinions
The distribution is to be 'ratable' on the claims as proved or adjudicated; that is, on one rule of proportion applicable to all alike. In order to be 'ratable,' the claims must manifestly be estimated as of the same point of time, and that date has been adjudged to be the date of the declaration of insolvency.