PART 14CLAIMS BY AND DISTRIBUTIONS TO CREDITORS IN F1A MORATORIUM, ADMINISTRATION, WINDING UP AND BANKRUPTCY

Annotations:
Amendments (Textual)

CHAPTER 2Creditors' claims in F2a moratorium, administration, winding up and bankruptcy

Annotations:
Amendments (Textual)

Provable debtsC114

1

All claims by creditors except as provided in this rule, are provable as debts against the company or bankrupt, whether they are present or future, certain or contingent, ascertained or sounding only in damages.

2

The following are not provable—

a

an obligation arising under a confiscation order made under—

i

section 1 of the Drug Trafficking Offences Act 1986 M1,

ii

section 1 of the Criminal Justice (Scotland) Act 1987 M2,

iii

section 71 of the Criminal Justice Act 1988 M3, or

iv

Parts 2, 3 or 4 of the Proceeds of Crime Act 2002 M4;

b

an obligation arising from a payment out of the social fund under section 138(1)(b) of the Social Security Contributions and Benefits Act 1992 M5 by way of crisis loan or budgeting loan.

c

in bankruptcy—

i

a fine imposed for an offence,

ii

an obligation (other than an obligation to pay a lump sum or to pay costs) arising under an order made in family proceedings, or

iii

an obligation arising under a maintenance assessment made under the Child Support Act 1991 M6.

3

In paragraph (2)(c), “fine” and “family proceedings” have the meanings given by section 281(8) (which applies the Magistrates Courts Act 1980 M7 and the Matrimonial and Family Proceedings Act 1984 M8).

4

The following claims are not provable until after all other claims of creditors have been paid in full with interest under sections 189(2) (winding up), section 328(4) (bankruptcy) and rule 14.23 (payment of interest)—

a

a claim arising by virtue of section 382(1)(a) of the Financial Services and Markets Act 2000 (restitution orders) M9, unless it is also a claim arising by virtue of sub-paragraph (b) of that section (a person who has suffered loss etc.); or

b

in administration and winding up, a claim which by virtue of the Act or any other enactment is a claim the payment of which in a bankruptcy, an administration or a winding up is to be postponed.

5

Nothing in this rule prejudices any enactment or rule of law under which a particular kind of debt is not provable, whether on grounds of public policy or otherwise.