SCHEDULES

SCHEDULE 4Moratoriums in Great Britain: temporary provision

PART 3Temporary rules: England and Wales

26Obtaining creditor consent: qualifying decision procedure

Rule 15.31 of the England and Wales Insolvency Rules (calculation of voting rights) has effect as if—

a

before paragraph (1) there were inserted—

A1

In relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.

b

after paragraph (2) there were inserted—

2A

But in relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.

c

in paragraph (6), after sub-paragraph (b) there were inserted—

c

where the decision relates to whether to consent to a revised end date for a moratorium under section A12 of the Act.