Rule 2.33 Administrator’s proposalsF1
The administrator shall, under paragraph 49, make a statement which he shall send to the registrar of companies attached to [FORM 2.11]Form 2.17B.
The statement shall include, in addition to those matters set out in paragraph 49—
details of the court where the proceedings are and the relevant court reference number;
the full name, registered address, registered number and any other trading names of the company;
details relating to his appointment as administrator, including the date of appointment and the person making the application or appointment and, where there are joint administrators, details of the matters set out in paragraph 100(2);
the names of the directors and secretary of the company and details of any shareholdings in the company they may have;
an account of the circumstances giving rise to the appointment of the administrator;
if a statement of the company’s affairs has been submitted, a copy or summary of it, with the administrator’s comments, if any;
if an order limiting the disclosure of the statement of affairs (under Rule 2.30) has been made, a statement of that fact, as well as—
details of who provided the statement of affairs;
the date of the order of limited disclosure; and
the details or a summary of the details that are not subject to that order;
if a full statement of affairs is not provided, the names, addresses and debts of the creditors including details of any security held;
if no statement of affairs has been submitted, details of the financial position of the company at the latest practicable date (which must, unless the court otherwise orders, be a date not earlier than that on which the company entered administration), a list of the company’s creditors including their names, addresses and details of their debts, including any security held, and an explanation as to why there is no statement of affairs;
the basis upon which it is proposed that the administrator’s remuneration should be fixed under Rule 2.106;
(except where the administrator proposes a voluntary arrangement in relation to the company and subject to paragraph (3))—
to the best of the administrator’s knowledge and belief—
an estimate of the value of the prescribed part (whether or not he proposes to make an application to court under section 176A(5) or section 176A(3) applies); and
an estimate of the value of the company’s net property; and
whether, and, if so, why, the administrator proposes to make an application to court under section 176A(5);
how it is envisaged the purpose of the administration will be achieved and how it is proposed that the administration shall end. If a creditors' voluntary liquidation is proposed, details of the proposed liquidator must be provided, and a statement that, in accordance with paragraph 83(7) and Rule 2.117(3), creditors may nominate a different person as the proposed liquidator, provided that the nomination is made after the receipt of the proposals and before the proposals are approved;
where the administrator has decided not to call a meeting of creditors, his reasons;
the manner in which the affairs and business of the company—
have, since the date of the administrator’s appointment, been managed and financed, including, where any assets have been disposed of, the reasons for such disposals and the terms upon which such disposals were made; and
will, if the administrator’s proposals are approved, continue to be managed and financed;
whether—
the EC Regulation applies; and
if so, whether the proceedings are main proceedings or territorial proceedings; and
such other information (if any) as the administrator thinks necessary to enable creditors to decide whether or not to vote for the adoption of the proposals.
Nothing in paragraph (2)(l) is to be taken as requiring any such estimate to include any information, the disclosure of which could seriously prejudice the commercial interests of the company. If such information is excluded from the calculation the estimate shall be accompanied by a statement to that effect.
Where the court orders, upon an application by the administrator under paragraph 107, an extension of the period of time in paragraph 49(5), the administrator shall notify in Form [FORM 8.2]2.18B all the persons set out in paragraph 49(4) as soon as reasonably practicable after the making of the order.
Where the administrator has made a statement under paragraph 52(1) and has not called an initial meeting of creditors, the proposals sent out under this Rule and paragraph 49 will (if no meeting has been requisitioned under paragraph 52(2) within the period set out in Rule 2.37(1)) be deemed to have been approved by the creditors.
Where the administrator intends to apply to the court (or file a notice under paragraph 80(2)) for the administration to cease at a time before he has sent a statement of his proposals to creditors in accordance with paragraph 49, he shall, at least 10 days before he makes such an application (or files such a notice), send to all creditors of the company (so far as he is aware of their addresses) a report containing the information required by paragraphs (2)(a)-(p) of this Rule.
Where the administrator wishes to publish a notice under paragraph 49(6) he shall publish the notice once in such newspaper as he thinks most appropriate for ensuring that the notice comes to the attention of the company’s members. The notice shall—
state the full name of the company;
state the full name and address of the administrator;
give details of the administrator’s appointment; and
specify an address to which members can write for a copy of the statement of proposals.
This notice must be published as soon as reasonably practicable after the administrator sends his statement of proposals to the company’s creditors but no later than 8 weeks (or such other period as may be agreed by the creditors or as the court may order) from the date that the company entered administration.
Annotations
Textual amendments
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Pt. 2 substituted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 9 (with rule 5(2)-(4))