(1)This section applies where a member State [F1insolvency practitioner] proposes to apply to AiB for the conversion under [F2Article 51 of the EU] insolvency proceedings regulation (conversion of [F3secondary insolvency] proceedings) of a protected trust deed into sequestration.
(2)An affidavit complying with section 191 must be—
(a)prepared and sworn, and
(b)submitted to AiB in support of the application.
(3)The application and affidavit required under subsection (2) are to be served on—
(a)the debtor,
(b)the trustee, and
(c)such other person as may be prescribed.
Textual Amendments
F1Words in s. 190(1) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(13)(a) (with reg. 9)
F2Words in s. 190(1) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(13)(b) (with reg. 9)
F3Words in s. 190(1) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(13)(c) (with reg. 9)
Commencement Information
I1S. 190 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2
(1)An affidavit required under section 190(2) must—
(a)state that main proceedings have been opened in relation to the debtor in a member State other than the United Kingdom,
[F4(b)state that the member State insolvency practitioner believes that the conversion of the protected trust deed into sequestration would be most appropriate as regards the interests of the local creditors and coherence between the main and secondary proceedings,]
(c)contain such other information as the member State [F5insolvency practitioner] considers will be of assistance to AiB—
(i)in deciding whether to make an order under section 192, and
(ii)if AiB were to do so, in considering the need for any consequential provision that would be necessary or desirable, and
(d)contain such other matters as may be prescribed.
(2)Any affidavit under this section must be sworn by, or on behalf of, the member State [F6insolvency practitioner] .
Textual Amendments
F4S. 191(1)(b) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(14)(a) (with reg. 9)
F5Words in s. 191(1)(c) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(14)(b) (with reg. 9)
F6Words in s. 191(2) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(14)(b) (with reg. 9)
Commencement Information
I2S. 191 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2
(1)After considering an application for conversion of a protected trust deed into a sequestration, AiB may make such order as AiB thinks fit.
(2)If AiB makes an order for conversion into sequestration, the order may contain all such consequential provisions as AiB thinks necessary or desirable.
(3)The provisions of this Act apply to an order made by AiB under subsection (1) as if the order were a determination by AiB of a debtor application—
(a)under section 22(1), and
(b)in relation to which the member State [F7insolvency practitioner] is a concurring creditor.
(4)On AiB making an order for conversion into sequestration under subsection (1), any expenses properly incurred as expenses of the administration of the trust deed in question become a first charge on the debtor's estate.
Textual Amendments
F7Words in s. 192(3)(b) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(15) (with reg. 9)
Commencement Information
I3S. 192 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2