The Insolvency (England and Wales) Rules 2016

Notices to creditors of decision procedure

15.8.—(1) This rule sets out the requirements for notices to creditors where a decision is sought by a decision procedure.

(2) The convener must deliver a notice to every creditor who is entitled to notice of the procedure.

(3) The notice must contain the following—

(a) identification details for the proceedings;

(b) details of the decision to be made or of any resolution on which a decision is sought;

(c) a description of the decision procedure which the convener is using, and arrangements, including the venue, for the decision procedure;

(d) a statement of the decision date;

(e) except in the case of a decision in relation to a proposed CVA or IVA, a statement of by when the creditor must have delivered a proof in respect of the creditor’s claim in accordance with these Rules failing which a vote by the creditor will be disregarded;

(f) a statement that a creditor whose debt is treated as a small debt in accordance with rule 14.31(1) must still deliver a proof if that creditor wishes to vote;

(g) a statement that a creditor who has opted out from receiving notices may nevertheless vote if the creditor provides a proof in accordance with paragraph (e);

(h) in the case of a decision to remove a liquidator in a creditors’ voluntary winding-up or a winding up by the court, a statement drawing the attention of creditors to section 173(2) or 174(4) (which relate to the release of the liquidator), as appropriate(1);

(i) in the case of a decision to remove a trustee in a bankruptcy, a statement drawing the attention of creditors to section 299(3)(2) (which relates to the release of the trustee);

(j) in the case of a decision in relation to a proposed CVA or IVA, a statement of the effects of the relevant provisions of the following—

(i) rule 15.28 about creditors’ voting rights,

(ii) rule 15.31 about the calculation of creditors’ voting rights, and

(iii) rule 15.34 about the requisite majority of creditors for making decisions;

(k) except in the case of a physical meeting, a statement that creditors who meet the thresholds in sections 246ZE(7) or 379ZA(7) may, within five business days from the date of delivery of the notice, require a physical meeting to be held to consider the matter;

(l) in the case of a meeting, a statement that any proxy must be delivered to the convener or chair before it may be used at the meeting;

(m) in the case of a meeting, a statement that, where applicable, a complaint may be made in accordance with rule 15.38 and the period within which such a complaint may be made; and

(n) a statement that a creditor may appeal a decision in accordance with rule 15.35, and the relevant period under rule 15.35 within which such an appeal may be made.

(4) The notice must be authenticated and dated by the convener.

(5) Where the decision procedure is a meeting the notice must be accompanied by a blank proxy complying with rule 16.3.

(6) This rule does not apply if the court orders under rule 15.12 that notice of a decision procedure be given by advertisement only.

(1)

Section 173(2)(d) is amended, (2)(a), (b) and (e) are substituted and (2A) is inserted by paragraph 44 of Schedule 9 to the Small Business, Enterprise and Employment Act 2015 (c.26) and section 174(4) is amended by paragraph 45 of Schedule 9 to the same Act.

(2)

Section 299(3) is amended by paragraph 24(3) of Schedule 19 to the Enterprise and Regulatory reform Act 2013 (c.24) and paragraph 78(3) to (5) of Schedule 9 to the Small Business, Enterprise and Employment Act 2015.