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Article 51 Secured creditorsI1

England and Wales

(1)

If a secured creditor realises his security, he may prove for the balance of his debt, after deducting the amount realised.

(2)

If a secured creditor voluntarily surrenders his security for the general benefit of creditors, he may prove for his whole debt, as if it were unsecured.

Annotations

Commencement

I1

Rule 51 in force at 1.10.2005, see rule 1