The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021 No. 1178

PART 7 E+W Distributions to creditors

CHAPTER 2 E+W Proofs of debt

Costs of proving E+W

121.  Unless the court otherwise orders—

(a) every creditor bears the cost of proving their own debt, including costs incurred in providing documents or evidence under rule 120, except where the administrator has proved a debt in relation to a customer’s shortfall claim under rule 120(6), and

(b) costs incurred by the administrator in estimating the quantum of a debt under rule 128 are payable out of the institution’s assets as an expense of the special administration.

Commencement Information

I1 Rule 121 in force at 12.11.2021, see rule 2