Amount Available for Distribution
When making a PIA distribution, the amount payable to each creditor is calculated as follows:
- Realisation Charge
- Fees Owed
- Costs / Provisions
- Total Amount available for distribution (all creditors)
Realisations - The total of all asset realisations (usually debtor contributions up until the distribution date)
Realisation Charge Accrued - the amount attributed to each transaction subject to realisation charge (remitted to AFSA)
Fees Owed - entered as accounts payable or paid directly as fees up until the distribution date.
Cost / Provisions - costs paid or entered as accounts payable as a provision for costs
The amount paid to each creditor
The amount paid to each creditor is calculated by:
- Admitted Amount
- The claim percentage
- Amount available for distribution
- The owing amount
- The amount paid to date
- The payment amount
Creditors - Admitted Amount
The amount admitted for each creditors claim.
The Amount available for distribution will then be distributed pro-rata in accordance with the percentage of the admitted claim.
Creditor Percentage Distribution (%)
This is the percentage of the creditors admitted claim in relation to the total of all creditors for the job.
This is the total of the "Amount available for distribution" multiplied by the percentage.
This is the amount previously paid to the creditor up until the date entered for the distribution.