Article 9 Amendments to Schedule 1 - Modifications of Part 4 in relation to Creditors' Voluntary Winding Up

Rule 4.10 as substituted by paragraph 6 of Schedule 1 to the Rules is renumbered as Rule 4.10(1), and the following inserted after the paragraph so renumbered–

“(2)

The report under paragraph 1(b) shall include–

(a)

to the best of the liquidator’s knowledge and belief–

(i)

an estimate of the value of the prescribed part (whether or not he proposes to make an application to the court under section 176A(5) or section 176A(3) applies), and

(ii)

an estimate of the value of the company’s net property,

provided that such estimates shall not be required to include any information the disclosure of which could seriously prejudice the commercial interests of the company, but if such information is excluded the estimates shall be accompanied by a statement to that effect; and

(b)

whether, and, if so, why, the liquidator proposes to make an application to the court under section 176A(5).”.

In Rule 4.31(2) as substituted by paragraph 18 of Schedule 1 to the Rules, after the word “payments” insert “and a statement as to the amount paid to unsecured creditors by virtue of the application of section 176A (prescribed part)”.