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Rule 2.35 Creditors' meetings generallyF1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

This Rule applies to creditors' meetings summoned by the administrator under—

(a)

paragraph 51 (initial creditors' meeting);

(b)

paragraph 52(2) (at the request of the creditors);

(c)

paragraph 54(2) (to consider revision to the administrator’s proposals);

(d)

paragraph 56(1) (further creditors' meetings); and

(e)

paragraph 62 (general power to summon meetings of creditors).

(2)

Notice of any of the meetings set out in paragraph (1) above shall be in [FORM 2.13]Form 2.20B.

(3)

In fixing the venue for the meeting, the administrator shall have regard to the convenience of creditors and the meeting shall be summoned for commencement between 10.00 and 16.00 hours on a business day, unless the court otherwise directs.

(4)

Subject to paragraphs (6) and (7) below, at least 14 days' notice of the meeting shall be given to all creditors who are known to the administrator and had claims against the company at the date when the company entered administration unless that creditor has subsequently been paid in full; and the notice shall—

(a)

specify the purpose of the meeting;

(b)

contain a statement of the effect of Rule 2.38 (entitlement to vote); and

(c)

contain the [FORM 2.14]forms of proxy.

(5)

If within 30 minutes from the time fixed for commencement of the meeting there is no person present to act as chairman, the meeting stands adjourned to the same time and place in the following week or, if that is not a business day, to the business day immediately following.

(6)

The meeting may be adjourned once, if the chairman thinks fit, but not for more than 14 days from the date on which it was fixed to commence, subject to the direction of the court.

(7)

If a meeting is adjourned the administrator shall as soon as reasonably practicable notify the creditors of the venue of the adjourned meeting.

Annotations

Textual amendments

F1

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))