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

PART 7 Distributions to creditors

CHAPTER 3 Quantification of claims

Realisation of security by creditor

141.  If a creditor who has valued their security subsequently realises it (whether or not at the instance of the administrator)—

(a) the net amount realised must be substituted for the value previously put by the creditor on the security, and

(b) that amount must be treated in all respects as an amended valuation made by the creditor.