Search Legislation

The Insolvency Rules 1986

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 6.118

 Help about opening options

Alternative versions:

Status:

This revised version has been created from an electronic version contributed by Westlaw which was originally derived from the printed publication. Read more

Changes to legislation:

There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Insolvency Rules 1986. Any changes that have already been made by the team appear in the content and are referenced with annotations. Help about Changes to Legislation

Test of security's valueE+W

6.118.—(1) Subject as follows, the trustee, if he is dissatisfied with the value which a secured creditor puts on his security (whether in his proof or by way of re-valuation under Rule 6.117), may require any property comprised in the security to be offered for sale.

(2) The terms of sale shall be such as may be agreed, or as the court may direct; and if the sale is by auction, the trustee on behalf of the estate, and the creditor on his own behalf, may appear and bid.

(3) This Rule does not apply if the security has been re-valued and the re-valuation has been approved by the court.

Commencement Information

I1Rule 6.118 in force at 29.12.1986, see rule 0.1

Back to top

Options/Help

You have chosen to open The Whole Instrument without Schedules

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument without Schedules as a PDF

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?