The Insolvency (England and Wales) (No.2) (Amendment) Rules 2021

Amendment of Part 15 of the Insolvency Rules

71.  After rule 15.23 insert—

“Adjournment of meeting in, or for the purposes of, a moratorium under Part A1 of the Act

15.23A.— (1) This rule applies where a meeting is for the purpose of a decision procedure in respect of a moratorium under Part A1 of the Act.

(2) Where this rule applies the chair may, (and must if it is so resolved), adjourn a meeting.

(3) A meeting may be adjourned under this rule on more than one occasion.

(4) An adjournment under this rule—

(a) must not be—

(i) for a period which is more than 14 days, or

(ii) to a date which is more than 14 days after the first day on which the meeting was held, and

(b) where a meeting is for the purpose of seeking a decision of creditors to a revised end date for a moratorium under section A11, must be to a date which is before the end of the moratorium(1).

(5) This rule is subject to any direction of the court.”.

(1)

Section A9 makes provision specifying the time at which the moratorium comes to an end in cases where the moratorium has not previously been extended and section A11 makes provisions specifying the time at which the moratorium comes to an end in cases where the moratorium has previously been extended.