The Insolvency (Amendment) Rules (Northern Ireland) 2006

Amendments to Rule 1.10

3.  In Rule 1.10—

(a) in paragraph (1)(a)—

(i) for the words “subject to an administration order” there shall be substituted “in administration”;

(ii) after the words “Rule 1.03” there shall be inserted “(subject to paragraph (3) of this Rule)”; and

(b) after paragraph (2) there shall be inserted—

“(3) The administrator or liquidator shall include, in place of the estimate required by Rule 1.03(2)(ca), a statement which contains—

(a) to the best of the administrator or liquidator’s knowledge and belief—

(i) an estimate of the value of the prescribed part (whether or not he proposes to make an application to court under Article 150A(5) or Article 150A(3) applies), and

(ii) an estimate of the value of the company’s net property, and

(b) whether, and, if so, why, the administrator or liquidator proposes to make an application to court under Article 150A(5).

(4) Nothing in this Rule is to be taken as requiring any such estimate to include any information, the disclosure of which could seriously prejudice the commercial interests of the company. If such information is excluded from the calculation the estimate shall be accompanied by a statement to that effect.”.