The Bank Insolvency Rules (Northern Ireland) 2009

PART 13 SETTLEMENT OF LIST OF CONTRIBUTORIES

Preliminary

153.  Apply rule 4.205 of the 1991 Rules.

Primacy of Objective 1

154.  Where the bank liquidator considers that the carrying out of a duty imposed by a rule in this Part would prejudice the achievement of Objective 1, the bank liquidator shall postpone the carrying out of that duty until he considers that the carrying out of the duty would no longer be likely to prejudice the achievement of that Objective.

Duty of liquidator to settle list

155.  Apply rule 4.206 of the 1991 Rules.

Form of list

156.  Apply rule 4.207 of the 1991 Rules.

Procedure for settling list

157.  Apply rule 4.208 of the 1991 Rules.

Application to court for variation of the list

158.—(1) Apply rule 4.209 of the 1991 Rules.

(2) For paragraph (2) substitute—

“(2) A person may only apply under paragraph (1) before a full payment resolution has been passed with the consent of the bank liquidator.

(3) The application must be made within 21 days of—

(a) the service on the applicant of the bank liquidator’s notice under rule 157 (in its application of rule 4.208(4) of the 1991 Rules), or

(b) where the bank liquidator has consented under paragraph (2), the giving of the consent.”.

Variation of, or addition to, the list

159.  Apply rule 4.210 of the 1991 Rules. For “Chapter”, substitute “Part”.

Costs not to fall on bank liquidator

160.  The bank liquidator is not personally liable for any costs incurred by a person in respect of an application to set aside or vary the bank liquidator’s act or decision in settling the list of contributories, or varying or adding to the list, unless the court makes an order to that effect.