PART 10Court procedure and practice
CHAPTER 6Applications to the court under section 176A of the IA 1986
Applications under section 176A(5) to disapply section 176AI1209
1
An application under section 176A(5) must be accompanied by a witness statement by the administrator.
2
The witness statement must state—
a
that the institution is in special administration,
b
a summary of the financial position of the institution, and
c
the information substantiating the administrator’s view that the cost of making a distribution to unsecured creditors would be disproportionate to the benefits.