The Insolvency Rules (Northern Ireland) 1991

Creditors' meeting to receive trustee's resignation

6.123.—(1) Before resigning his office, the trustee must call a meeting of creditors for the purpose of receiving his resignation. The notice summoning the meeting shall indicate that this is the purpose, or one of the purposes, of it, and shall draw the attention of creditors to Rule 6.132 with respect to the trustee's release. [FORM 6.38]

(2) A copy of the notice shall at the same time also be sent to the official receiver.

(3) The notice to creditors under paragraph (1) must be accompanied by an account of the trustee's administration of the bankrupt's estate, including—

(a) a summary of his receipts and payments and

(b) a statement by him that he has reconciled his account with that which is held by the Department in respect of the bankruptcy.

(4) Subject to paragraph (5), the trustee may only proceed under this Rule on grounds of ill health or because—

(a) he intends ceasing to be in practice as an insolvency practitioner, or

(b) there is some conflict of interest or change of personal circumstances which precludes or makes impracticable the further discharge by him of the duties of trustee.

(5) Where two or more persons are acting as trustee jointly, any one of them may proceed under this Rule (without prejudice to the continuation in office of the other or others) on the ground that, in his opinion and that of the other or others, it is no longer expedient that there should continue to be the present number of joint trustees.

(6) If there is no quorum present at the meeting summoned to receive the trustee's resignation, the meeting is deemed to have been held, a resolution is deemed to have been passed that the trustee's resignation be accepted and the creditors are deemed not to have resolved against the trustee having his release.

(7) Where paragraph (6) applies, any reference in the Rules to a resolution that the trustee's resignation be accepted is replaced by a reference to the making of a written statement, signed by the person who, had there been a quorum present, would have been chairman of the meeting, that no quorum was present and that the trustee may resign.

[E.R.6.126]