Rule 12.14 Applications under section 176A(5) to disapply section 176AC1
(1)
An application under section 176A(5) must be accompanied by a witness statement of the liquidator, administrator or receiver.
(2)
The witness statement must state—
(a)
the type of insolvency proceedings in which the application arises;
(b)
a summary of the financial position of the company;
(c)
the information substantiating the applicant's view that the cost of making a distribution to unsecured creditors would be disproportionate to the benefits; and
(d)
whether any other office-holder is acting in relation to the company and, if so, that office-holder's address.
Annotations
Modifications
- C1
Rules 12.6-12.31 applied (with modifications) (19.3.2024) by The Water Industry (Special Administration) (England and Wales) Rules 2024 (S.I. 2024/229), rules 1, 5, 62-73, Sch. (with rule 2(2))