Article 16 Postal administrator’s proposalsI1

Scotland

(1)

The statement required to be made by the postal administrator under paragraph 49 of Schedule B1 to the 1986 Act shall include, in addition to those matters set out in that paragraph—

(a)

details of the court which granted the postal administration order or in which the notice of appointment was lodged, and the relevant court reference number (if any);

(b)

the full name, registered address, registered number and any other trading names of the company;

(c)

details relating to the postal administrator’s appointment, including the date of appointment and whether the application was made by the Secretary of State or OFCOM and, where there are joint postal administrators, details of the matters set out in section 72(5) of the 2011 Act (postal administrators);

(d)

the names of the directors and secretary of the company and details of any shareholdings which they have in the company;

(e)

an account of the circumstances giving rise to the appointment of the postal administrator;

(f)

if a statement of the company’s affairs has been submitted, a copy or summary of it, with the postal administrator’s comments, if any;

(g)

if an order limiting the disclosure of the statement of affairs has been made, a statement of that fact, as well as—

(i)

details of who provided the statement of affairs;

(ii)

the date of the order of limited disclosure; and

(iii)

the details or summary of the details that are not subject to that order;

(h)

if a full statement of affairs is not provided, the names and addresses of the creditors, and details of the debts owed to, and security held by, each of them;

(i)

if no statement of affairs has been submitted—

(i)

details of the financial position of the company at the latest practicable date (which must, unless the court otherwise orders, be a date not earlier than that on which the company entered postal administration);

(ii)

the names and addresses of the creditors and details of the debts owed to, and security held by, each of them; and

(iii)

an explanation as to why there is no statement of affairs;

(j)

a statement complying with paragraph (3) of any pre-postal administration costs charged or incurred by the postal administrator or, to the postal administrator’s knowledge, by any other person qualified to act as an insolvency practitioner;

(k)

except where the postal administrator proposes a voluntary arrangement in relation to the company—

(i)

to the best of the postal administrator’s knowledge and belief—

(aa)

an estimate of the value of the prescribed part (whether or not the postal administrator proposes to make an application to court under section 176A(5) of the 1986 Act (share of assets for unsecured creditors)^f1 or section 176A(3) of the 1986 Act applies); and

(bb)

an estimate of the value of the company’s net property,

provided that such estimates shall not be required to include any information the disclosure of which could seriously prejudice the commercial interests of the company, but if such information is excluded the estimates shall be accompanied by a statement to that effect; and

(ii)

whether, and if so, why, the postal administrator proposes to make an application to court under section 176A(5) of the 1986 Act;

(l)

a statement (which must comply with paragraph (4) where that paragraph applies) of how it is envisaged the objective of the postal administration will be achieved and how it is proposed that the postal administration shall end;

(m)

the manner in which the affairs and business of the company—

(i)

have, since the date of the postal administrator’s appointment, been managed and financed, including, where any assets have been disposed of, the reasons for such disposals and the terms upon which such disposals were made; and

(ii)

will continue to be managed and financed; and

(n)

such other information (if any) as the postal administrator thinks necessary.

(2)

In this Part—

(a)

“pre-postal administration costs” are—

(i)

fees charged; and

(ii)

expenses incurred,

by the postal administrator, or another person qualified to act as an insolvency practitioner, before the company entered postal administration but with a view to its doing so; and

(b)

“unpaid pre-postal administration costs” are pre-postal administration costs which had not been paid when the company entered postal administration.

(3)

A statement of pre-postal administration costs complies with this paragraph if it includes—

(a)

details of any agreement under which the fees were charged and expenses incurred, including the parties to the agreement and the date on which the agreement was made;

(b)

details of the work done for which the fees were charged and expenses incurred;

(c)

an explanation of why the work was done before the company entered postal administration and how it would further the achievement of the objective of the postal administration;

(d)

a statement of the amount of the pre-postal administration costs, setting out separately—

(i)

the fees charged by the postal administrator;

(ii)

the expenses incurred by the postal administrator;

(iii)

the fees charged (to the postal administrator’s knowledge) by any other person qualified to act as an insolvency practitioner (and, if more than one, by each separately); and

(iv)

the expenses incurred (to the postal administrator’s knowledge) by any other person qualified to act as an insolvency practitioner (and, if more than one, by each separately);

(e)

a statement of the amounts of pre-postal administration costs which have already been paid (set out separately as under sub-paragraph (d));

(f)

the identity of the person who made the payment or, if more than one person made the payment, the identity of each such person and of the amounts paid by each such person (set out separately as under sub-paragraph (d));

(g)

a statement of the amounts of unpaid pre-postal administration costs (set out separately as under F1sub-paragraph (d)); and

(h)

a statement that the payment of unpaid pre-postal administration costs as an expense of the postal administration is subject to approval under F2Rule 49.

(4)

This paragraph applies where it is proposed that the postal administration will end by the company moving to a creditors’ voluntary liquidation; and in that case, the statement required by paragraph (1)(l) must include—

(a)

details of the proposed liquidator;

(b)

where applicable, the declaration required by section 231 of the 1986 Act (appointment to office of two or more persons); and

(c)

a statement that the creditors may, nominate a different person as liquidator in accordance with paragraph 83(7) of Schedule B1 to the 1986 Act and F3Rule 58.

(5)

A copy of the postal administrator’s statement of the postal administrator’s proposals shall be sent to the registrar of companies together with a notice in Form PA10(S).

(6)

Where the court orders, upon an application by the postal administrator under paragraph 107 of Schedule B1 to the 1986 Act, an extension of the period of time in paragraph 49(5) of that Schedule, the postal administrator must as soon as reasonably practicable after the making of the order notify in Form PA11(S) every creditor of the company and every member of the company of whose address (in either case) the postal administrator is aware.

(7)

Where the postal administrator wishes to publish a notice under paragraph 49(6) of Schedule B1 to the 1986 Act, the notice shall be advertised in such manner as the postal administrator thinks fit.

(8)

A notice published under paragraph (7) must include the standard content and must also state—

(a)

that members can write for a copy of the statement of proposals for achieving the purpose of postal administration; and

(b)

the address to which to write.

(9)

The notice must be published as soon as reasonably practicable after the postal administrator sends the statement of proposals to the company’s creditors but no later than 8 weeks (or such other period as may be agreed by the creditors or as the court may order) from the date that the company entered postal administration.

Annotations

Textual amendments

F1: Word in rule 16(3)(g) substituted (13.4.2017) by The Postal Administration (Scotland) (Amendment) Rules 2017 (S.I. 2017/441), rules 1, 2(5)
F2: Words in rule 16(3)(h) substituted (13.4.2017) by The Postal Administration (Scotland) (Amendment) Rules 2017 (S.I. 2017/441), rules 1, 2(11)
F3: Words in rule 16(4)(c) substituted (13.4.2017) by The Postal Administration (Scotland) (Amendment) Rules 2017 (S.I. 2017/441), rules 1, 2(11)

Commencement

I1: Rule 16 in force at 1.10.2016, see rule 1

Footnotes

f1: Section 176A was inserted by the Enterprise Act 2002 (c. 40), section 252.