Rule 154 Applications under section 176A(5) of the 1986 Act to disapply section 176A

An application under section 176A(5) of the 1986 Act^f1 (share of assets for unsecured creditors) shall include averments—

(a)

that the application arises in respect of a special administration;

(b)

as to the financial position of the investment bank; and

(c)

as to the basis of the applicant’s view that the cost of making a distribution to unsecured creditors would be disproportionate to the benefits.

Annotations

f1: 1986 c.45; section 176A was inserted by the Enterprise Act 2002 (c.40), section 252 and amended by S.I. 2008/948.