Article 63 Notice of proposed distributionI1

England and Wales

(1)

Where an energy administrator is proposing to make a distribution to creditors he shall give 28 days' notice of that fact.

(2)

The notice given pursuant to paragraph (1) shall—

(a)

be sent to all creditors whose addresses are known to the energy administrator;

(b)

state whether the distribution is to preferential creditors or preferential creditors and unsecured creditors; and

(c)

where the energy administrator proposes to make a distribution to unsecured creditors, state the value of the prescribed part, except where the court has made an order under section 176A(5) of the 1986 Act^f1.

(3)

Subject to paragraph (5), the energy administrator shall not declare a dividend unless he has by public advertisement invited creditors to prove their debts.

(4)

A notice pursuant to paragraphs (1) or (3) shall—

(a)

state that it is the intention of the energy administrator to make a distribution to creditors within the period of 2 months from the last date for proving;

(b)

specify whether the proposed dividend is interim or final;

(c)

specify a date up to which proofs may be lodged being a date which—

(i)

is the same date for all creditors; and

(ii)

is not less than 21 days from that of the notice.

(5)

A notice pursuant to paragraph (1) where a dividend is to be declared for preferential creditors, need only be given to those creditors in whose case he has reason to believe that their debts are preferential and public advertisement of the intended dividend need only be given if the energy administrator thinks fit.

Annotations

Commencement

I1: Rule 63 in force at 1.10.2005, see rule 1

Footnotes

f1: 1986 c. 45; section 176A inserted by the Enterprise Act 2002 c. 40, section 252.