THE FIRST GROUP OF PARTS

PART 4 COMPANIES WINDING UP

CHAPTER 8 MEETINGS OF CREDITORS AND CONTRIBUTORIES

SECTION A: RULES OF GENERAL APPLICATION

4.50 First meetings
(NO CVL APPLICATION)
1 If under section 136(5) the official receiver decides to summon meetings of the company's creditors and contributories for the purpose of nominating a person to be liquidator in place of himself, he shall fix a venue for each meeting, in neither case more than 4 months from the date of the winding-up order.
2 When for each meeting a venue has been fixed, notice of the meetings shall be given to the court and—
(a) in the case of the creditors' meeting, to every creditor who is known to the official receiver or is identified in the company's statement of affairs; and
(b) in the case of the contributories' meeting, to every person appearing (by the company's books or otherwise) to be a contributory of the company.
3 Notice to the court shall be given forthwith, and the other notices shall be given at least 21 days before the date fixed for each meeting respectively.
4 The notice to creditors shall specify a time and date, not more than 4 days before the date fixed for the meeting, by which they must lodge proofs and (if applicable) proxies, in order to be entitled to vote at the meeting; and the same applies in respect of contributories and their proxies.
5 Notice of the meetings shall also be given by public advertisement.
6 Where the official receiver receives a request by creditors under section 136(5)(c) for meetings of creditors and contributories to be summoned, and it appears to him that the request is properly made in accordance with the Act, he shall—
(a) withdraw any notices previously given by him under section 136(5)(b) (that he has decided not to summon such meetings),
(b) fix the venue of each meeting for not more than 3 months from his receipt of the creditors' request, and
(c) act in accordance with paragraphs (2) to (5) above, as if he had decided under section 136 to summon the meetings.
[FORM 4.21]
7 Meetings summoned by the official receiver under this Rule are known respectively as “the first meeting of creditors” and “the first meeting of contributories”, and jointly as “the first meetings in the liquidation”.
8 Where the company is a recognised bank or licensed institution under the Banking Act 1979, or an institution to which sections 16 and 18 of that Act apply as if it were a licensed institution, additional notices are required by Rule 4.72.
Rule 4.50 in force at 29.12.1986, see rule 0.1