Rule 173 Test of security’s valueI1
England and Wales
(1)
Subject as follows, the administrator, if dissatisfied with the value which a secured creditor puts on their security (whether in their proof or by way of re-valuation under rule 170), may require any property comprised in the security to be offered for sale.
(2)
The terms of sale shall be such as may be agreed, or as the court may direct; and if the sale is by auction, the administrator on behalf of the investment bank, and the creditor on their own behalf, may appear and bid.
(3)
This rule does not apply if the security has been revalued and the revaluation has been approved by the court.