Article 4.3 Action following application for a block transfer order

(1)

In cases relating to the appointment of a supervisor of a CVA, in deciding to what extent (if any) the costs of making an application under rule 4.2 should be paid as an expense of the CVA proceedings to which the application relates, the factors to which the Court of Session must have regard include—

(a)

the reasons for the making of the application;

(b)

the number of cases to which the application relates;

(c)

the value of the assets comprised in those cases; and

(d)

the nature and extent of the costs involved.

(2)

Where an application relates to the appointment of an administrator and is made by a person under section 13 or paragraph 63, 91 or 95 of Schedule B1, the costs of making that application are to be paid as an expense of the administration to which the application relates unless the Court of Session directs otherwise.

(3)

Notice of any appointment made under rule 4.2 must be delivered by the replacement office-holder—

(a)

to the Secretary of State as soon as reasonably practicable; and

(b)

to—

(i)

the creditors in the first progress report following such appointment,

(ii)

such other persons as the Court of Session may direct, in such manner as the court may direct.