Article 1.35 Office-holder to provide information to creditors on opting out

(1)

The office-holder must, in the first communication with a creditor, inform the creditor in writing that the creditor may elect to opt out of receiving further documents relating to the insolvency proceedings.

(2)

The communication must contain—

(a)

identification and contact details for the office-holder;

(b)

a statement that the creditor has the right to elect to opt out of receiving further documents about the insolvency proceedings unless—

(i)

the Act requires a document to be delivered to all creditors without expressly excluding opted-out creditors,

(ii)

the document is a notice relating to a change in the office-holder or the office-holder's contact details, or

(iii)

the document is a notice of a dividend or proposed dividend; or

(iv)

the document is a notice which the court orders to be sent to all creditors or all creditors of a particular category to which the creditor belongs;

(c)

a statement that opting out will not affect the creditor's entitlement to receive dividends should any be paid to creditors;

(d)

a statement that unless these Rules provide to the contrary opting out will not affect any right the creditor may have to vote in a decision procedure or to participate in a deemed consent procedure in the insolvency proceedings although the creditor will not receive notice of it;

(e)

a statement that a creditor who opts out will be treated as having opted out in respect of any consecutive insolvency proceedings of a different kind in respect of the same company; and

(f)

information about how the creditor may elect to be or cease to be an opted-out creditor.

Notes on Chapter 9

Marginal citations

M1: Section 246C was prospectively inserted for Scotland by section 124(3) of the Small Business, Enterprise and Employment Act 2015 (c.26) and section 248A by section 124(4) of that Act.