Rule 78 Amendment of Part 15 of the Insolvency Rules

Rule 15.35 (appeals against decisions under this Chapter) is amended as follows.

At the beginning of paragraph (3), for “If the” substitute “In respect of a decision, other than one which is taken, or required, under Part A1 of the Act (as to which see paragraphs (3A) and (3B) if that”.

After paragraph (3) insert—

“(3A)

Subject to paragraph (3B), on an appeal against a decision taken, or required, under Part A1 of the Act a court may—

(a)

reverse the decision;

(b)

vary the decision;

(c)

declare certain votes to be invalid; or

(d)

make such other order as it sees fit.

(3B)

A court must not make an order of the kind referred to in paragraph (3A)(a) to (c) if—

(a)

it is satisfied that the circumstances which led to the appeal did not give rise to unfair prejudice or material irregularity, or

(b)

the decision was taken at a time when the moratorium was in force, and that moratorium has subsequently come to an end.”.