PART 3ADMINISTRATION
CHAPTER 7Administrator's proposals
Seeking approval of the administrator's proposals3
1
This rule applies where the administrator is required by paragraph 51 of Schedule B1 M1 to seek approval from the company's creditors of the statement of proposals.
2
The statement of proposals delivered under paragraph 49(4) of Schedule B1 M2 must be accompanied by a notice to the creditors of the decision procedure in accordance with rule 5.8.
3
The administrator may seek approval from the creditors using the deemed consent procedure in which case the statement of proposals delivered under paragraph 49(4) must be accompanied by a notice complying with the requirements of rule 5.7.
4
Where the administrator has made a statement under paragraph 52(1) and has not sought a decision on approval from creditors, the proposal will be deemed to have been approved unless a decision has been requested under paragraph 52(2) M3.
5
Where under paragraph (4) the proposal is deemed to have been approved the administrator must, as soon as reasonably practicable after the expiry of the period for requisitioning a decision set out in rule 5.17(2), deliver a notice of the date of deemed approval to the registrar of companies, the court and any creditor to whom the administrator has not previously delivered the proposal.
6
The notice must contain—
a
identification details for the insolvency proceedings;
b
the name of the administrator;
c
the date the administrator was appointed; and
d
the date on which the statement of proposals was delivered to the creditors.
7
A copy of the statement of proposals, with the statements required by rule 3.35(5) must accompany the notice given to the court and to any creditors to whom a copy of the statement of proposals has not previously been delivered.