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Rule 2.90 Value of securityF1

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)

A secured creditor may, with the agreement of the administrator or the leave of the court, at any time alter the value which he has, in his proof of debt, put upon his security.

(2)

However, if a secured creditor—

(a)

being the applicant for an administration order or the appointor of the administrator, has in the application or the notice of appointment put a value on his security; or

(b)

has voted in respect of the unsecured balance of his debt,

he may re-value his security only with permission of the court.

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))