C1 PART VIIIINDIVIDUAL VOLUNTARY ARRANGEMENTS
CHAPTER IIVOLUNTARY ARRANGEMENTS
Moratorium for insolvent debtor
Application for interim order227
1
Application to the High Court for an interim order may be made where the debtor intends to make a proposalF1 under this Part, that is, a proposal to his creditors for a composition in satisfaction of his debts or a scheme of arrangement of his affairs (referred to, in either case, as a “voluntary arrangement”).
2
The proposal must provide for some person ( “the nominee”) to act in relation to the voluntary arrangement either as trustee or otherwise for the purpose of supervising its implementationF1 and the nominee must be a person who is qualified to act as an insolvency practitioner, or authorised to act as nominee, in relation to the voluntary arrangement.
3
Subject to paragraphs (4) and (5), the application may be made—
a
if the debtor is an undischarged bankrupt, by the debtor, the trustee of his estate, or the official receiver, and
b
in any other case, by the debtor.
4
An application shall not be made under paragraph (3)(a) unless the debtor has given notice ofF2 the proposal to the official receiver and, if there is one, the trustee of his estate.
5
An application shall not be made while a bankruptcy petition presented by the debtor is pending, if the High Court has, under Article 247, appointed an insolvency practitioner to inquire into the debtor's affairs and report.
Pts. VIII-X (arts. 209-345) modified by Foyle Fisheries Act (Northern Ireland) 1952 (c. 5), s. 52K(2) (as inserted (prosp.) by Foyle and Carlingford Fisheries (Northern Ireland) Order 2007 (S.I. 2007/915 (N.I. 9)), arts. 1(3), 3(1) (with art. 32))