The Insolvency (England and Wales) Rules 2016

Record of a decision E+W

15.40.—(1) The convener or chair must cause a record of the decision procedure to be kept.

(2) In the case of a meeting, the record must be in the form of a minute of the meeting.

(3) The record must be authenticated by the convener or chair and be retained by the office-holder as part of the records of the insolvency proceedings in question.

(4) The record must identify the proceedings, and must include—

(a) in the case of a decision procedure of creditors, a list of the names of the creditors who participated and their claims;

(b) in the case of a decision procedure of contributories, a list of the names of the contributories who participated;

(c) where a decision is taken on the election of members of a creditors' committee or liquidation committee, the names and addresses of those elected;

(d) a record of any change to the result of the resolution made under rule 15.38(6) and the reason for any such change; and

(e) in any case, a record of every decision made and how creditors voted.

(5) Where a decision is sought using the deemed consent procedure, a record must be made of the procedure, authenticated by the convener, and must be retained by the office-holder as part of the records of the insolvency proceedings in question.

(6) The record under paragraph (5) must—

(a) identify the proceedings;

(b) state whether or not the decision was taken; and

(c) contain a list of the creditors or contributories who objected to the decision, and in the case of creditors, their claims.

(7) A record under this rule must also identify any decision procedure (or the deemed consent procedure) by which the decision had previously been sought.

Modifications etc. (not altering text)

C1 Rule 15.40 applied (with modifications) (19.3.2024) by The Water Industry (Special Administration) (England and Wales) Rules 2024 (S.I. 2024/229), rules 1, 5, 134, Sch. (with rule 2(2))