Application of moveable property to payment of debts where domicile not in Bangladesh
324. (1) If the domicile of the deceased was not in Bangladesh, the application of his moveable property to the payment of his debts is to be regulated by the law of Bangladesh.
(2) No creditor who has received payment of a part of his debt by virtue of sub-section (1) shall be entitled to share in the proceeds of the immoveable estate of the deceased unless he brings such payment into account for the benefit of the other creditors.
(3) This section shall not apply where the deceased was Hindu, Muslim, Buddhist, Sikh or Jaina or an exempted person.
Illustration
A, dies, having his domicile in a country where instruments under seal have priority over instruments not under seal leaving moveable property to the value of 5,000 Taka, and immoveable property to the value of 10,000 Taka, debts on instruments under seal of the amount of 10,000 Taka, and debts on instruments not under seal to the same amount. The creditors holding instruments under seal receive half of their debts out of the proceeds of the moveable estate. The proceeds of the immoveable estate are to be applied in payment of the debts on instruments not under seal until one-half of such debts has been discharged. This will leave 5,000 Taka which are to be distributed rateably amongst all the creditors without distinction, in proportion to the amount which may remain due to them.