Rule 55 Requisition of meetings

(1)

In this Chapter, “requisitioned meeting” means a meeting requested under paragraph 56(1).

(2)

A request for a meeting must contain the following information—

(a)

a statement that the proceedings are being held in the court and the court reference number;

(b)

the full name, registered address and registered number of the investment bank;

(c)

the full name and address of the creditor requesting the meeting; and

(d)

the full amount of that creditor’s claim.

(3)

The request for a requisitioned meeting must include a statement of the purpose of the proposed meeting and—

(a)

either—

(i)

a list of the creditors or contributories concurring with the request and of the amounts of their respective claims or values, and

(ii)

written confirmation of concurrence from each creditor or contributory concurring, or

(b)

a statement that the requesting creditor’s debt or contributory’s value alone is sufficient without the concurrence of other creditors or contributories.

(4)

In the preceding paragraph, a contributory’s value is the amount in respect of which the contributory may vote at any meeting.

(5)

A requisitioned meeting must be held within 28 days of the date of the administrator’s receipt of the notice.

(6)

The administrator—

(a)

shall notify the FSA of the details and purpose of the requisitioned meeting;

(b)

shall—

(i)

in a special administration (bank insolvency), notify the Bank of England of the details and purpose of the requisitioned meeting, or

(ii)

in a special administration (bank administration), notify the Bank of England and the FSCS of the details and purpose of the requisitioned meeting, and

(c)

may, if the administrator thinks appropriate, also summon the clients to the requisitioned meeting.