Rule 11.6 Notice of declarationI1

England and Wales

(1)

The responsible insolvency practitioner shall give notice of the dividend to—

F1(a)

all creditors who have proved their debts, and

(b)

where a member State liquidator has been appointed in relation to the insolvent, to that person.

(2)

The notice shall include the following particulars relating to the insolvency and the administration of the insolvent estate—

(a)

amounts realised from the sale of assets, indicating (so far as practicable) amounts raised by the sale of particular assets;

(b)

payments made by the insolvency practitioner in the administration of the insolvent estate;

(c)

provision (if any) made for unsettled claims, and funds (if any) retained for particular purposes;

(d)

the total amount to be distributed, and the rate of dividend;

(e)

whether, and if so when, any further dividend is expected to be declared.

(3)

The dividend may be distributed simultaneously with the notice declaring it.

(4)

Payment of dividend may be made by post, or arrangements may be made with any creditor for it to be paid to him in another way, or held for his collection.

(5)

Where a dividend is paid on a bill of exchange or other negotiable instrument, the amount of the dividend shall be endorsed on the instrument, or on a certified copy of it, if required to be produced by the holder for that purpose.

Annotations

Textual amendments

F1: Rule 11.6(1)(a)(b) substituted for words in rule 11.6(1) (31.5.2002) by The Insolvency (Amendment) Rules 2002 (S.I. 2002/1307), rules 1, 10(4) (with rule 3)

Commencement

I1: Rule 11.6 in force at 29.12.1986, see rule 0.1