Article 21 Bank administrator’s proposals: Objective 2 Stage

details of the court where the proceedings are and the court reference number;

the full name, any other trading names, the registered office and registered number of the bank;

details of the appointment of the bank administrator (including the date);

in the case of joint bank administrators, details of the apportionment of functions;

the names of the directors and secretary of the bank and details of any shareholdings in the bank they have;

an account of the circumstances giving rise to the application for the appointment of the bank administrator;

if a statement of the bank’s affairs has been submitted, a copy or summary of it with the comments of the bank administrator, if any;

if an order limiting the disclosure of the statement of affairs has been made under rule 2.22 of the 1986 Rules (as applied by rule 39 below), a statement of that fact, as well as—

if a full statement of affairs is not provided, the names, addresses and debts of the creditors including details of any security held (or, in the case of depositors, a single statement of their aggregate debt);

if no statement of affairs has been provided, details of the financial position of the bank at the latest practicable date (which must, unless the court otherwise orders, be a date not earlier than that on which the bank entered bank administration), a list of the bank’s creditors including their names, addresses and details of their debts, including any security held, and an explanation as to why there is no statement of affairs;

the basis upon which it is proposed that the remuneration of the bank administrator should be fixed under rule 2.39 of the 1986 Rules (as applied by rule 39 below);

details of whether (and why) the bank administrator proposes to apply to the court under section 176A(5) of the 1986 Act^f2 (omission of distribution to unsecured creditors: as applied by Table 2 in section 145 of the 2009 Act)(unless the bank administrator intends to propose a company voluntary arrangement);

an estimate of the value of the prescribed part for the purposes of section 176A of the 1986 Act (unless the bank administrator intends to propose a company voluntary arrangement) certified as being made to the best of the bank administrator’s knowledge and belief;

an estimate of the value of the bank’s net property (unless the bank administrator intends to propose a company voluntary arrangement) certified as being made to the best of the bank administrator’s knowledge and belief;

whether the bank administrator proposes to pursue Objective 2(a) or Objective 2(b);

if the bank administrator proposes to pursue Objective 2(a), how it is envisaged the purpose of the bank administration will be achieved;

if the bank administrator proposes to pursue Objective 2(b)—

if the bank administrator has decided not to call a meeting of creditors, the reasons for that decision;

the manner in which the affairs and business of the bank have been managed and financed since the date of the appointment of the bank administrator (including the reasons for and terms of any disposal of assets);

the manner in which the affairs and business of the bank will be managed and financed if the proposals of the bank administrator are approved; and

any other information which the bank administrator thinks necessary to enable creditors to decide whether or not to vote for the approval of the proposals.

the statement under paragraph 49 of Schedule B1 must state whether any payment is to be made to the bank from a scheme under a resolution fund order; or

if that information is unavailable when the statement under paragraph 49 of Schedule B1 is made, the bank administrator must issue a supplemental statement as soon as reasonably practicable after the information becomes available.

may exclude information, the disclosure of which could seriously prejudice the commercial interests of the bank; and

must include a statement of any exclusion.