Rule 4.18 Appointment of liquidator by the court

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

rule 1.12-1.16E applied 2016 asp 21 s. 14B (as inserted) by Insolvency (Regulation (EU) 2015/848) 2017 reg. 4(8)
Rules applied (with modifications) by Building Society Special Administration 2009 rule 38-41
rule 4.18(4)(a) words substituted by Scotland Act 1998 (Consequential Modifications) 1999 Sch. 2 para. 141(7)
Rules applied (with modifications) by Limited Liability Partnerships 2001 reg. 6(1)
Rules specified provisions applied (with modifications) by Collective Investment in Transferable Securities (Contractual Scheme) 2013 Sch. 4

(1)

This Rule applies where a liquidator is appointed by the court under section 138(1) (appointment of interim liquidator), 138(5) (no person appointed or nominated by the meetings of creditors and contributories), 139(4) (different persons nominated by creditors and contributories) or 140(1) or (2) (liquidation following administration or voluntary arrangement).

(2)

The court shall not make the appointment unless and until there is lodged in court a statement to the effect that the person to be appointed is an insolvency practitioner, duly qualified under the Act to be the liquidator, and that he consents so to act.

(3)

Thereafter, the court shall send a copy of the order to the liquidator, whose appointment takes effect from the date of the order.

(4)

The liquidator shall -

(a)

within 7 days of his appointment, give notice of it to the registrar of companies; andForm 4.7 (Scot)

(b)

within 28 days of his appointment, give notice of it to the creditors and contributories or, if the court so permits, he shall advertise his appointment in accordance with the directions of the court.

(5)

In any notice or advertisement to be given by him under this Rule, the liquidator shall -

(a)

state whether he intends to summon meetings of creditors and contributories for the purpose of establishing a liquidation committee or whether he proposes to summon only a meeting of creditors for that purpose; and

(b)

if he does not propose to summon any meeting, set out the powers of the creditors under section 142(3) to require him to summon such a meeting.