The Insolvency (Scotland) (Receivership and Winding up) Rules 2018

Action following application for a block transfer orderS

This section has no associated Policy Notes

6.3.—(1) In deciding to what extent (if any) the costs of making an application under rule 6.2 should be paid as an expense of the case to which the application relates, the factors to which the Court of Session must have regard include—

(a)the reasons for making the application;

(b)the number of cases to which the application relates;

(c)the value of the assets comprised in those cases; and

(d)the nature and extent of costs involved.

(2) Where an appointment under rule 6.1 is made, the replacement liquidator must—

(a)as soon as reasonably practicable give notice of the appointment to AiB;

(b)within 28 days give notice of the appointment to the creditors and contributories, or if the court so permits, advertise the appointment in accordance with the directions of the court; and

(c)give notice to such other persons, and in such form, as the Court of Session may direct.

(3) In any notice given by the replacement liquidator under this rule the replacement liquidator must state—

(a)that the outgoing liquidator has been removed; and

(b)whether the outgoing liquidator has been released.