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The Bank Insolvency Rules (Northern Ireland) 2009

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PART 11COLLECTION AND DISTRIBUTION OF BANK'S ASSETS BY BANK LIQUIDATOR

General duties of bank liquidator

136.  Apply rule 4.188 of the 1991 Rules.

General qualification on powers

137.  In exercising any power conferred on the bank liquidator by this Part before a full payment resolution has been passed, the bank liquidator shall exercise it consistently with Objective 1.

Manner of distributing assets

138.  Apply rule 4.189 of the 1991 Rules.

Debts of insolvent company to rank equally

139.  Apply rule 4.190 of the 1991 Rules.

Supplementary provisions as to dividend

140.  Apply rule 4.191 of the 1991 Rules.

Division of unsold assets

141.  Apply rule 4.193 of the 1991 Rules.

General powers of the liquidator

142.  Apply rule 4.194 of the 1991 Rules. In paragraph (1) delete “under Article 142(1)(a), or”.

Enforced delivery up of company’s property

143.  Apply rule 4.195 of the 1991 Rules.

Final distribution

144.  Apply rule 4.196 of the 1991 Rules. In paragraphs (1) and (2) for “Part 11”, substitute “Part 21”.

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