Commentary

138 When initial creditors’ decision is not required

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

138 When initial creditors’ decision is not required

| Commentary

138 When initial creditors’ decision is not required

A creditors’ decision need not be sought at all in two sets of circumstances:

  1. 138.1

        The first set is where, before the due date for convening the decision procedure, the administrator:

    1. 138.1.1

          has applied to the court under the Insolvency Act 1986 Schedule B1 paragraph 79 to terminate the administration on the basis that the purpose of administration cannot be achieved or has been sufficiently achieved; or

    2. 138.1.2

          (if he was appointed out of court under paragraph 14 or paragraph 22 of that Schedule) he has filed a notice under paragraph 80

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