Amendment of Part 4
This section has no associated Explanatory Memorandum
31. In Rule 4.228C (Litigation expenses and property subject to a floating charge - request for approval or authorisation) for paragraph (4)(c) substitute—
“(c)notice to—
(i)each preferential creditor; and
(ii)each creditor of the kind described in Rule 4.228A(1)(b)(ai);
that approval or authorisation of the specified amount will be taken to be given where a majority in value of those creditors referred to in sub-paragraphs (i) and (ii) who respond within the specified time limit are in favour of it; or”.