OpenLegislation

Rule 4.105 Realisation of security by creditor

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

If a creditor who has valued his security subsequently realises it (whether or not at the instance of the liquidator)—

(a)

the net amount realised shall be substituted for the value previously put by the creditor on the security, and

(b)

that amount shall be treated in all respects as an amended valuation made by him.

[E.R.4.99]