Rule 98 Secured creditor: value of security (rule 14.15)

for paragraph (2) there were substituted—

“(2)

Where a secured creditor has voted in respect of the unsecured balance of the debt—

(a)

the secured creditor may re-value the security only with the agreement of the special administrator or the permission of the court; and

(b)

where the revaluation was by agreement, the special administrator must deliver a notice of the revaluation to the creditors within five business days of the special administrator’s agreement.”;

paragraph (3) were omitted.