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Rule 2.71 Division of unsold assetsF1

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

  • rule 2.71(1) rule 2.71 renumbered as rule 2.71(1) by Insolvency 2010 Sch. 1 para. 79(2)
  • rule 2.71(2) added by Insolvency 2010 Sch. 1 para. 79(3)
  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)

The administrator may, with the permission of the creditors' committee, or if there is no creditors' committee, the creditors, divide in its existing form amongst the company’s creditors, according to its estimated value, any property which from its peculiar nature or other special circumstances cannot be readily or advantageously sold.

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))