PART 3Miscellaneous amendments of the Insolvency Rules
Amendment of Part 7 of the Insolvency Rules41.
(1)
Rule 7.108 (general rule as to priority) is amended as follows.
(2)
“(1A)
The costs of an application by the liquidator under rule 1A.27 are to be treated as an expense of the winding up unless the court orders otherwise.”.
(3)
In paragraph (4), after “as provided in” insert “paragraphs (5) and (6), rule 7.108A, and”.
(4)
“(5)
This paragraph applies where—
(a)
a moratorium has been in force for a company under Part A1 of the Act,
(b)
proceedings for the winding up of the company are begun before the end of the period of 12 weeks beginning with the day after the end of the moratorium, and
(c)
there are claims in respect of any prescribed fees or expenses of the official receiver which, in accordance with section 174A(2), fall to be paid in preference to all other claims.
(6)
Where paragraph (5) applies, then, in consequence of those claims of the official receiver falling to be paid in preference to all other claims by virtue of section 174A(2), the order of priority referred to in paragraph (4) is modified as follows—
(a)
sub-paragraph (a)(ii) is omitted in relation to any expenses chargeable or incurred by the official receiver,
(b)
sub-paragraph (a)(iii) and (iv) are omitted, and
(c)
sub-paragraphs (b) to (d) are omitted in relation to any expenses incurred by, or fee payable to, the official receiver.”.