THE FIRST GROUP OF PARTS

PART 1COMPANY VOLUNTARY ARRANGEMENTS

CHAPTER 3PROPOSAL BY ADMINISTRATOR OR LIQUIDATOR (HIMSELF THE NOMINEE)

Preparation of proposal1.10

1

The responsible insolvency practitioner's proposal shall specify—

a

all such matters as under Rule 1.3 in Chapter 2 the directors of the company would be required to include in a proposal by them, and

b

such other matters (if any) as the insolvency practitioner considers appropriate for ensuring that members and creditors of the company are enabled to reach an informed decision on the proposal.

2

Where the company is being wound up by the court, the insolvency practitioner shall give notice of the proposal to the official receiver.

Summoning of meetings under s. 31.11

1

The responsible insolvency practitioner shall fix a venue for the creditors' meeting and the company meeting, and give at least 14 days' notice of the meetings—

a

in the case of the creditors' meeting, to all the creditors specified in the company's statement of affairs, and to any other creditors of whom the insolvency practitioner is aware; and

b

in the case of the company meeting, to all persons who are, to the best of his belief, members of the company.

2

Each notice sent out under this Rule shall state the effect of Rule 1.19(1), (3) and (4) (requisite majorities (creditors)); and with it there shall be sent—

a

a copy of the responsible insolvency practitioner's proposal, and

b

a copy of the statement of affairs or, if he thinks fit, a summary of it (the summary to include a list of creditors and the amounts of their debts).