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The Insolvency (England and Wales) Rules 2016

Status:

This is the original version (as it was originally made).

Savings in respect of meetings taking place on or after the commencement date and resolutions by correspondence

This section has no associated Explanatory Memorandum

5.—(1) This paragraph applies where on or after the commencement date—

(a)a creditors’ or contributories’ meeting is to be held as a result of a notice issued before that date in relation to a meeting for which provision is made by the 1986 Rules or the 1986 Act;

(b)a meeting is to be held as a result of a requisition by a creditor or contributory made before that date;

(c)a meeting is to be held as a result of a statement made under paragraph 52(1)(b) of Schedule B1 and a request is made before that date which obliges the administrator to summon an initial creditors’ meeting;

(d)a progress meeting is required by section 104A of the 1986 Act(1) in the winding up of a company where the resolution to wind up was passed before 6th April 2010.

(2) Where a meeting is to be held under sub-paragraph (1)(a) to (1)(d), Part 15 of these Rules does not apply and the 1986 Rules relating to the following continue to apply—

(a)the requirement to hold the meeting;

(b)notice and advertisement of the meeting;

(c)governance of the meeting;

(d)recording and taking minutes of the meeting;

(e)the report or return of the meeting;

(f)membership and formalities of establishment of liquidation and creditors’ committees where the resolution to form the committee is passed at the meeting;

(g)the office-holder’s resignation or removal at the meeting;

(h)the office-holder’s release;

(i)fixing the office-holder’s remuneration;

(j)requests for further information from creditors;

(k)hand-over of assets to a supervisor of a voluntary arrangement where the proposal is approved at the meeting;

(l)the notice of the appointment of a supervisor of a voluntary arrangement where the appointment is made at the meeting;

(m)the advertisement of appointment of a trustee in bankruptcy where the appointment is made at the meeting;

(n)claims that remuneration is or that other expenses are excessive; and

(o)complaints about exclusion at the meeting.

(3) Where, before the commencement date, the office-holder sought to obtain a resolution by correspondence under 1986 rule 2.48, 4.63A or 6.88A, the 1986 Rules relating to resolutions by correspondence continue to apply and sub-paragraph (2) applies to any meeting that those rules require the office-holder to summon.

(4) However, any application to the court in respect of such a meeting or vote is to be made in accordance with Part 12 of these Rules.

(1)

1986 c.45. Article 12 of the Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 S.I. 2010/18 saves section 104A of the Act in relation to companies where the resolution to wind up was passed before 6th April 2010.

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