Article 5.15 Secured creditor: value of securityI1
England and Wales
(1)
A secured creditor may, with the agreement of the housing administrator or the permission of the court, at any time alter the value which that creditor has put upon a security in a proof.
(2)
Where a secured creditor has voted in respect of the unsecured balance of the debt—
(a)
the secured creditor may re-value the security only with the agreement of the housing administrator or the permission of the court; and
(b)
where the revaluation was by agreement, the housing administrator must deliver a notice of the revaluation to the creditors within five business days after the housing administrator’s agreement.
Annotations
Commencement
- I1
Rule 5.15 in force at 5.7.2018, see rule 1.1