SCHEDULE 1Amendments to the Insolvency Rules 1986

New Rule after Rule 2.3754

After Rule 2.37 insert—

2.37ANotice of meetings by advertisement only

1

The court may order that notice of any meeting be given by advertisement and not by individual notice to the persons concerned.

2

In considering whether to act under this Rule, the court must have regard to the cost of advertisement, the amount of assets available and the extent of the interest of creditors, members or any particular class of either.