# The Investment Bank Special Administration (England and Wales) Rules 2011, Rule 162: Secured creditors

Extent: E+W

(1) If a secured creditor realises their security, the creditor may prove for the balance of their debt, after deducting the amount realised.
(2) If a secured creditor voluntarily surrenders their security for the general benefit of creditors, they may prove for their whole debt, as if it were unsecured.

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Source: https://www.legislation.gov.uk/uksi/2011/1301/rule/162 (the official version)
Page: https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-162
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.