Rule 4.26 Removal 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 4.26(5) words substituted by Scotland Act 1998 (Consequential Modifications) 1999 Sch. 2 para. 141(11)
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 application is made to the court for the removal of the liquidator, or for an order directing the liquidator to summon a meeting of creditors for the purpose of removing him.

(2)

The court may require the applicant to make a deposit or give caution for the expenses to be incurred by the liquidator on the application.

(3)

The applicant shall, at least 14 days before the hearing, send to the liquidator a notice stating its date, time and place and accompanied by a copy of the application, and of any evidence which he intends to adduce in support of it.

(4)

Subject to any contrary order of the court, the expenses of the application are not payable as an expense of the liquidation.

(5)

Where the court removes the liquidator -

(a)

it shall send two copies of the order of removal to him;

(b)

the order may include such provision as the court thinks fit with respect to matters arising in connection with the removal; and

(c)

if the court appoints a new liquidator, Rule 4.18 applies,

and the liquidator, on receipt of the two court orders under sub-paragraph (a), shall send one copy of the order to the registrar of companies, together with a notice of his ceasing to act as a liquidator.Form 4.11 (Scot)