C3C4C5PART 15DECISION MAKING

Annotations:
Modifications etc. (not altering text)
C3

Pt. 15 applied in part (with modifications) (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 paras. 23(1)(a), 24-28 (with ss. 2(2), 5(2), Sch. 4 para. 12)

C1C2C6CHAPTER 3Notices, voting and venues for decisions

Annotations:
Modifications etc. (not altering text)
C2

Pt. 15 Ch. 3 applied (with modifications) (31.1.2019) by The Education Administration Rules 2018 (S.I. 2018/1135), rules 1, 3.29 (with rule 1.2)

Notices to creditors of decision procedureC715

1

This rule sets out the requirements for notices to creditors where a decision is sought by a decision procedure.

2

The convener must deliver a notice to every creditor who is entitled to notice of the procedure.

3

The notice must contain the following—

a

identification details for the proceedings;

b

details of the decision to be made or of any resolution on which a decision is sought;

c

a description of the decision procedure which the convener is using, and arrangements, including the venue, for the decision procedure;

d

a statement of the decision date;

e

F1... a statement of by when the creditor must have delivered a proof in respect of the creditor's claim in accordance with these Rules failing which a vote by the creditor will be disregarded;

f

F4except in the case of a decision procedure in respect of a moratorium under Part A1 of the Act a statement that a creditor whose debt is treated as a small debt in accordance with rule 14.31(1) must still deliver a proof if that creditor wishes to vote;

g

F5except in the case of a decision procedure in respect of a moratorium under Part A1 of the Act a statement that a creditor who has opted out from receiving notices may nevertheless vote if the creditor provides a proof in accordance with paragraph (e);

h

in the case of a decision to remove a liquidator in a creditors' voluntary winding-up or a winding up by the court, a statement drawing the attention of creditors to section 173(2) F2, 174(2) or 174(4) (which relate to the release of the liquidator), as appropriate M1;

i

in the case of a decision to remove a trustee in a bankruptcy, a statement drawing the attention of creditors to section F3299(1) or 299(3) M2 (which relates to the release of the trustee);

j

in the case of a decision in relation to a proposed CVA or IVA, a statement of the effects of the relevant provisions of the following—

i

rule 15.28 about creditors' voting rights,

ii

rule 15.31 about the calculation of creditors' voting rights, and

iii

rule 15.34 about the requisite majority of creditors for making decisions;

k

except in the case of a physical meeting, a statement that creditors who meet the thresholds in sections 246ZE(7) or 379ZA(7) may, within five business days from the date of delivery of the notice, require a physical meeting to be held to consider the matter;

l

in the case of a meeting, a statement that any proxy must be delivered to the convener or chair before it may be used at the meeting;

m

in the case of a meeting, a statement that, where applicable, a complaint may be made in accordance with rule 15.38 and the period within which such a complaint may be made; and

n

a statement that a creditor may appeal a decision in accordance with rule 15.35, and the relevant period under rule 15.35 within which such an appeal may be made.

4

The notice must be authenticated and dated by the convener.

5

Where the decision procedure is a meeting the notice must be accompanied by a blank proxy complying with rule 16.3.

6

This rule does not apply if the court orders under rule 15.12 that notice of a decision procedure be given by advertisement only.