Article 64 Notice of proposed distribution

(1)

Where an energy administrator is proposing to make a distribution to creditors the energy administrator must give notice of the fact.

(2)

The notice given pursuant to paragraph (1) must—

(a)

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

(b)

state whether the distribution is—

(i)

to preferential creditors; or

(ii)

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 M1.

(3)

Subject to paragraph (5)(b), before declaring a dividend the energy administrator must by notice invite the creditors to prove their debts. Such notice—

(a)

must be gazetted; and

(b)

may be advertised in such other manner as the energy administrator thinks fit.

(4)

A notice pursuant to paragraph (1) or (3) must, in addition to the standard contents—

(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)

Where a dividend is to be declared for preferential creditors—

(a)

the notice pursuant to paragraph (1) need only be given to those creditors in whose cases the energy administrator has reason to believe that their debts are preferential; and

(b)

the notice pursuant to paragraph (3) need only be given if the energy administrator thinks fit.

Annotations

Marginal citations

M1: 1986 c. 45; section 176A inserted by the Enterprise Act 2002 (c. 40), section 252.