The Postal Administration Rules 2013

Postal administrator’s proposals

20.—(1) The postal administrator shall, under paragraph 49, make a statement which the postal administrator shall send to the registrar of companies.

(2) The statement shall include, in addition to those matters set out in paragraph 49—

(a) details of the court where the proceedings are and the relevant court reference number;

(b) the full name, registered address, registered number and any other trading names of the company;

(c) details relating to their appointment as postal administrator, including the date of appointment and whether the postal administration application was made by OFCOM or the Secretary of State and, where there are joint postal administrators, details of the matters set out in section 72(5) of the 2011 Act;

(d) the names of the directors and secretary of the company and details of any shareholdings in the company they may have;

(e) an account of the circumstances giving rise to the appointment of the postal administrator;

(f) if a statement of the company’s affairs has been submitted, a copy or summary of it, with the postal administrator’s comments, if any;

(g) if an order limiting the disclosure of the statement of affairs (under Rule 17) has been made, a statement of that fact, as well as—

(i) details of who provided the statement of affairs;

(ii) the date of the order of limited disclosure; and

(iii) the details or a summary of the details that are not subject to that order;

(h) if a full statement of affairs is not provided, the names, addresses and debts of the creditors including details of any security held;

(i) if no statement of affairs has been submitted, details of the financial position of the company at the latest practicable date (which must, unless the court otherwise orders, be a date not earlier than that on which the company entered postal administration), a list of the company’s creditors including their names, addresses and details of their debts, including any security held, and an explanation as to why there is no statement of affairs;

(j) except where the postal administrator proposes a voluntary arrangement in relation to the company and subject to paragraph (5) of this Rule—

(i) to the best of the postal administrator’s knowledge and belief—

(aa) an estimate of the value of the prescribed part (whether or not they propose to make an application to court under section 176A(5) or section 176A(3) of the 1986 Act(1) applies); and

(bb) an estimate of the value of the company’s net property; and

(ii) whether, and, if so, why, the postal administrator proposes to make an application to court under section 176A(5) of the 1986 Act;

(k) a statement complying with paragraph (3) of this Rule of any pre-postal administration costs charged or incurred by the postal administrator or, to the postal administrator’s knowledge, by any other person qualified to act as an insolvency practitioner.

(l) a statement (which must comply with paragraph (4) of this Rule where that paragraph applies) of how it is envisaged the purpose of the postal administration will be achieved and how it is proposed that the postal administration shall end;

(m) the manner in which the affairs and business of the company—

(i) have, since the date of the postal administrator’s appointment, been managed and financed, including, where any assets have been disposed of, the reasons for such disposals and the terms upon which such disposals were made; and

(ii) will continue to be managed and financed; and

(n) such other information (if any) as the postal administrator thinks necessary to enable creditors to decide whether or not to vote for the adoption of the proposals.

(3) A statement of pre-postal administration costs complies with this paragraph if it includes—

(a) details of any agreement under which the fees were charged and expenses incurred, including the parties to the agreement and the date on which the agreement was made;

(b) details of the work done for which the fees were charged and expenses incurred;

(c) an explanation of why the work was done before the company entered postal administration and how it would further the achievement of the objective of the postal administration;

(d) a statement of the amount of the pre-postal administration costs, setting out separately—

(i) the fees charged by the postal administrator;

(ii) the expenses incurred by the postal administrator;

(iii) the fees charged (to the postal administrator’s knowledge) by any other person qualified to act as an insolvency practitioner (and, if more than one, by each separately); and

(iv) the expenses incurred (to the postal administrator’s knowledge) by any other person qualified to act as an insolvency practitioner (and, if more than one, by each separately);

(e) a statement of the amounts of pre-postal administration costs which have already been paid (set out separately as under sub-paragraph (d));

(f) the identity of the person who made the payment or, if more than one person made the payment, the identity of each such person and of the amounts paid by each such person set out separately as under sub-paragraph (d);

(g) a statement of the amounts of unpaid pre-postal administration costs (set out separately as under paragraph (d)); and

(h) a statement that the payment of unpaid pre-postal administration costs as an expense of the postal administration is subject to approval under Rule 38.

(4) This paragraph applies where it is proposed that the postal administration will end by the company moving to a creditors’ voluntary liquidation; and in that case, the statement required by paragraph (2)(l) of this Rule must include—

(a) details of the proposed liquidator;

(b) where applicable, the declaration required by section 231 of the 1986 Act; and

(c) a statement that the creditors may nominate a different person as liquidator in accordance with paragraph 83(7)(a) and Rule 81(3).

(5) Nothing in paragraph (2)(j) of 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.

(6) Where the court orders, upon an application by the postal administrator under paragraph 107, an extension of the period of time in paragraph 49(5), the postal administrator must as soon as reasonably practicable after the making of the order—

(a) notify in Form PA8 every creditor of the company and every member of the company of whose address (in either case) the postal administrator is aware, and

(b) send a copy of the notification to the registrar of companies.

(7) Where the postal administrator wishes to publish a notice under paragraph 49(6), the notice shall be advertised in such manner as the postal administrator thinks fit.

(8) In addition to the standard contents, the notice under paragraph (7) of this Rule must state—

(a) that members can write for a copy of the statement of proposals for achieving the purpose of postal administration; and

(b) the address to which to write.

(9) This notice must be published as soon as reasonably practicable after the postal administrator sends their statement of proposals to the company’s creditors but no later than 8 weeks (or such other period as may be agreed by the creditors or as the court may order) from the date that the company entered postal administration.

(1)

1986 c. 45; section 176A inserted by the Enterprise Act 2002 c. 40, section 252.