PART 5CLAIMS BY AND DISTRIBUTIONS TO CREDITORS
CHAPTER 2Creditors’ claims in housing administration
Secured creditor: value of security5.15
1
A secured creditor may, with the agreement of the housing administrator or the permission of the court, at any time alter the value which that creditor has put upon a security in a proof.
2
Where a secured creditor has voted in respect of the unsecured balance of the debt—
a
the secured creditor may re-value the security only with the agreement of the housing administrator or the permission of the court; and
b
where the revaluation was by agreement, the housing administrator must deliver a notice of the revaluation to the creditors within five business days after the housing administrator’s agreement.