The Postal Administration Rules 2013

Creditors’ meeting for nomination of alternative liquidator

24.—(1) Where under Rules 20(4) or 33(2)(g) the postal administrator has proposed that the company enter creditors’ voluntary liquidation once the postal administration has ended, the postal administrator must, in the circumstances detailed in paragraph (2) of this Rule, call a meeting of creditors for the purpose of nominating a person other than the person named as proposed liquidator in the postal administrator’s proposals or revised proposals.

(2) The postal administrator must call a meeting of creditors where such a meeting is requested by creditors of the company whose debts amount to at least 10 per cent of the total debts of the company.

(3) The request for a creditors’ meeting for the purpose set out in paragraph (1) of this Rule must be in Form PA10. A request for such a meeting must be made within 8 business days of the date on which the postal administrator’s statement of proposals is sent out.

(4) A request under this Rule must include—

(a) a list of creditors concurring with the request, showing the amounts of the respective debts in the postal administration; and

(b) from each creditor concurring, written confirmation of the creditor’s concurrence;

but this paragraph does not apply if the requesting creditor’s debt is alone sufficient without the concurrence of other creditors.

(5) A meeting requested under this Rule must be held within 28 days of the postal administrator’s receipt of the notice requesting the meeting.