592. Secured creditors.

Where a creditor alters the value of a security after a dividend has been declared, the following provisions apply1.

If the alteration reduces the creditor's unsecured claim ranking for dividend, the creditor must as soon as reasonably practicable repay to the trustee, for the credit of the bankrupt's estate, any amount received by the creditor as dividend in excess of that to which the creditor would be entitled having regard to the alteration of the value of the security2.

If the alteration increases the creditor's unsecured claim, the creditor is entitled to receive from the trustee, out of any money for