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Rule 4.186 Final distributionI1

England and Wales

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)

When the liquidator has realised all the company's assets or so much of them as can, in his opinion, be realised without needlessly protracting the liquidation, he shall give notice, under Part 11 of the Rules, either—

(a)

of his intention to declare a final dividend, or

(b)

that no dividend, or further dividend, will be declared.

(2)

The notice shall contain all such particulars as are required by Part 11 of the Rules and shall require claims against the assets to be established by a date specified in the notice.

(3)

After that date, the liquidator shall—

(a)

defray any outstanding expenses of the winding up out of the assets, and

(b)

if he intends to declare a final dividend, declare and distribute that dividend without regard to the claim of any person in respect of a debt not already proved.

(4)

The court may, on the application of any person, postpone the date specified in the notice.

Annotations

Commencement

I1

Rule 4.186 in force at 29.12.1986, see rule 0.1