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Rule 65 Realisation of security by creditor

Original text. Later amendments are not shown.

If a creditor who has valued the creditor’s security subsequently realises it, whether or not at the instance of the T&S administrator—

(a)

the net amount realised must be treated in all respects, including in relation to any valuation in a proof, as an amended valuation made by the creditor, and

(b)

the creditor may prove for the balance of the creditor’s debt.