Rule 31 Amendment of Part 4I1

In Rule 4.228C (Litigation expenses and property subject to a floating charge - request for approval or authorisation) for paragraph (4)(c) substitute—

“(c)

notice to—

(i)

each preferential creditor; and

(ii)

each creditor of the kind described in Rule 4.228A(1)(b)(ai);

that approval or authorisation of the specified amount will be taken to be given where a majority in value of those creditors referred to in sub-paragraphs (i) and (ii) who respond within the specified time limit are in favour of it; or”.