Rule 7.9 Entitlement to vote (creditors)

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
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
rule 7.9 applied in part by Building Society Insolvency 2010 rule 98
rule 7.9(4)(a) word omitted by Insolvency 2010 Sch. 1 para. 106
rule 7.9(4)(b) words omitted by Insolvency 2010 Sch. 1 para. 107
rule 7.9(4)(c)(i) omitted by Insolvency 2010 Sch. 1 para. 108

(1)

This Rule applies to a creditors' meeting in any insolvency proceedings.

(2)

A creditor is entitled to vote at any meeting if he has submitted his claim to the responsible insolvency practitioner and his claim has been accepted in whole or in part.

(3)

Chapter 5 of Part 4 (claims in liquidation) shall apply for the purpose of determining a creditor's entitlement to vote at any creditors' meeting in any insolvency proceedings as it applies for the purpose of determining a creditor's entitlement to vote at a meeting of creditors in a liquidation, subject to the modifications specified in the following paragraphs and to any other necessary modification.

(4)

For any reference in the said Chapter 5, or in any provision of the Bankruptcy Act as applied by Rule 4.16(1), to -

(a)

the liquidator, there shall be substituted a reference to the supervisor, administrator or receiver, as the case may be;

(b)

the liquidation, there shall be substituted a reference to the voluntary arrangement, administration or receivership as the case may be;

(c)

the date of commencement of winding up, there shall be substituted a reference -

(i)

in the case of a meeting in a voluntary arrangement, to the date of the meeting or, where the company is being wound up or is subject to an administration order, the date of its going into liquidation or, as the case may be, of the administration order; and

(ii)

in the case of a meeting in the administration or receivership, to the date of the administration order or, as the case may be, the date of appointment of the receiver;

(5)

In the application to meetings of creditors other than in liquidation proceedings of Schedule 1 to the Bankruptcy Act, paragraph 5(2) and (3) (secured creditors) shall not apply.

(6)

This Rule is subject to Rule 7.4(6) and Schedule 3.