Rule 5.20 Voting rights

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

rules 11.01-11.13 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rule 6(10)-CP(3) substituted by Insolvency 2000 rule 5
rule 4.056-CVL(2) words inserted by Insolvency 2006 Sch. 1 para. 22
rule 4.228A-4.228E inserted by Insolvency 2008 rule 5
rules 2.028-2.110 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 2.114-2.115 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 2.119-2.130 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 4.027-4.029 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 4.031-4.034 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 4.197-4.204 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.05-7.07 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.09-7.14 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.19-7.22 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.24-7.30 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.34-7.42 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 7.50-7.54 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rules 12.01-12.22 applied with modifications by rule 58 by Bank Administration 2009 rule 61
rule 7. 13B(2) word omitted by Insolvency 2023 rule 37(1)

(1)

Subject to paragraphs (3) to (8), every creditor who was given notice of the creditors' meeting is entitled to vote at the meeting or any adjournment of it.

(2)

In Case 1, votes are calculated according to the amount of the creditor's debt as at the date of the bankruptcy order, and in Case 2 according to the amount of the debt as at the date of the meeting.

(3)

A creditor shall not vote in respect of a debt for an unliquidated amount, or any debt whose value is not ascertained, except where the chairman agrees to put upon the debt an estimated minimum value for the purpose of entitlement to vote.

(4)

The chairman has power to admit or reject a creditor's claim for the purpose of his entitlement to vote, and the power is exercisable with respect to the whole or any part of the claim.

(5)

The chairman's decision on entitlement to vote is subject to appeal to the court by any creditor, or by the debtor.

(6)

If the chairman is in doubt whether a claim should be admitted or rejected, he shall mark it as objected to and allow the creditor to vote, subject to his vote being subsequently declared invalid if the objection to the claim is sustained.

(7)

Subject to paragraph (8), if on an appeal the chairman's decision is reversed or varied, or a creditor's vote is declared invalid, the court may order another meeting to be summoned, or make such other order as it thinks just.

(8)

The court's power to make an order under paragraph (7) is exercisable only if it considers that the matter is such as to give rise to unfair prejudice or a material irregularity.

(9)

An application to the court by way of appeal under this Rule against the chairman's decision shall not be made after the end of the period of 28 days beginning with the day on which the chairman's report to the court is made under Article 233.

(10)

The chairman is not personally liable for any costs incurred by any person in respect of an appeal under this Rule.

[E.R.5.17]