Rule 2.33 Insolvency Rules 1986

(1) The administrator shall, under paragraph 49, make a statement which he shall send to the registrar of companies.

(2) The statement shall include, in addition to those matters set out in paragraph 49– 

(a) details of the court where the proceedings are and the relevant court reference number;

(b) the full name, registered address, registered number and any other trading names of the company;

(c) details relating to his appointment as administrator, including the date of appointment and the person making the application or appointment and, where there are joint administrators, details of the matters set out in paragraph 100(2);

(d) the names of the directors and secretary of the company and details of any shareholdings in the company they may have;

(e) an account of the circumstances giving rise to the appointment of the administrator;

(f) if a statement of the company's affairs has been submitted, a copy or summary of it, with the administrator's comments, if any;

(g) if an order limiting the disclosure of the statement of affairs (under Rule 2.30) has been made, a statement of that fact, as well as– 

(i) details of who provided the statement of affairs;

(ii) the date of the order of limited disclosure; and

(iii) the details or a summary of the details that are not subject to that order;

(h) if a full statement of affairs is not provided, the names, addresses and debts of the creditors including details of any security held;

(j) if no statement of affairs has been submitted, details of the financial position of the company at the latest practicable date (which must, unless the court otherwise orders, be a date not earlier than that on which the company entered administration), a list of the company's creditors including their names, addresses and details of their debts, including any security held, and an explanation as to why there is no statement of affairs;

(k) the basis upon which it is proposed that the administrator's remuneration should be fixed under Rule 2.106;

(ka) a statement complying with paragraph (2B) of any pre-administration costs charged or incurred by the administrator or, to the administrator’s knowledge, by any other person qualified to act as an insolvency practitioner;

(l) (except where the administrator proposes a voluntary arrangement in relation to the company and subject to paragraph (3))– 

(i) to the best of the administrator's knowledge and belief– 

(aa) an estimate of the value of the prescribed part (whether or not he proposes to make an application to court under section 176A(5) or section 176A(3) applies); and

(bb) an estimate of the value of the company's net property; and

(ii) whether, and, if so, why, the administrator proposes to make an application to court under section 176A(5);

(m) a statement (which must comply with paragraph (2C) where that paragraph applies) of how it is envisaged the purpose of the administration will be achieved and how it is proposed that the administration shall end;

(n) where the administrator has decided not to call a meeting of creditors, his reasons;

(o) the manner in which the affairs and business of the company– 

(i) have, since the date of the administrator's appointment, been managed and financed, including, where any assets have been disposed of, the reasons for such disposals and the terms upon which such disposals were made; and

(ii) will, if the administrator's proposals are approved, continue to be managed and financed;

(p) whether– 

(i) the EC Regulation applies; and

(ii) if so, whether the proceedings are main proceedings, secondary proceedings or territorial proceedings; and

(q) such other information (if any) as the administrator thinks necessary to enable creditors to decide whether or not to vote for the adoption of the proposals.

 

(2A) In this Part-

(a) “pre-administration costs” are-

(i) fees charges, and

(ii)  expenses incurred,

by the administrator, or another person qualified to act as an insolvency practitioner, before the company entered administration but with a view to its doing so; and

(b) “unpaid pre-administration costs” are pre-administration costs which had not been paid when the company entered administration.

(2B) A statement of pre-administration costs complies with this paragraph if it includes-

(a) details of any agreement under which the fees were charges and expenses incurred, including parties to the agreement and the date on which the agreement was made,

(b) details of the work done for which the fees were charged and expenses incurred,

(c) an explanation of why the work was done before the company entered administration and how it would further the achievement of an objective in sub-paragraph (1) of paragraph 3 in accordance with sub-paragraphs (2) to (4) of that paragraph,

(d) a statement of the amount of the pre-administration costs, setting out separately-

(i) the fees charged by the administrator,

(ii)  the expenses incurred by the administrator,

(iii)  the fees charged (to the administrator’s knowledge) by any other person qualified to act as an insolvency practitioner (and, if more than one, by each separately),

(e) a statement the amounts of pre-administration costs which have already been paid (set out separately as under sub-paragraph (d)),

(f)  the identity of the person who made the payment or, if more than one person made the payment, the identity of each such person and of the amounts paid by each such person set out separately as under sub-paragraph (d),

(g)  a statement of the amounts of unpaid pre-administration costs (set out separately as under sub-paragraph (d)), and

(h)  a statement that the payment of unpaid pre-administration costs as an expense of the administration is-

(i) subject to approval under Rule 2.67A, and

(ii) not part of the proposals subject to approval under paragraph 53,

(2C) This paragraph applies where it is proposed that the administration will end by the company moving to a creditors’ voluntary liquidation; and in that case, the statement required by paragraph (2)(m) must include—

(a) details of the proposed liquidator

(b) where applicable, the declaration required by section; and

(c) a statement that the creditors may, before the proposals are approved, nominate a different person as liquidator in accordance with paragraph 83(7)(a) and Rule 2.117A(2)(b).

(3) Nothing in paragraph (2)(l) is to be taken as requiring any such estimate to include any information, the disclosure of which could seriously prejudice the commercial interests of the company. If such information is excluded from the calculation the estimate shall be accompanied by a statement to that effect.

 (4) Where the court orders, upon an application by the administrator under paragraph 107, an extension of the period of time in paragraph 49(5), the administrator must as soon as reasonably practicable after the making of the order—

(a) notify in Form 2.18B every creditor of the company and every member of the company of whose address (in either case) the administrator is aware, and

(b) send a copy of the notification to the registrar of companies.

(5) Where the administrator has made a statement under paragraph 52(1) and has not called an initial meeting of creditors, the proposals sent out under this Rule and paragraph 49 will (if no meeting has been requisitioned under paragraph 52(2) within the period set out in Rule 2.37(1)) be deemed to have been approved by the creditors.

(5A) Where proposals are deemed under paragraph (5) to have been approved, the administrator must, as soon as reasonably practicable after expiry of the period set out in Rule 2.37(1), give notice of the date on which they were deemed to have been approved to the registrar of companies, the court and the creditors; and a copy of the proposals must be attached to the notice given to the court and to creditors who have not previously received them.

(6) Where the administrator intends to apply to the court (or file a notice under paragraph 80(2)) for the administration to cease at a time before he has sent a statement of his proposals to creditors in accordance with paragraph 49, he shall, at least 7 business days before he makes such an application (or files such a notice), send to all creditors of the company (so far as he is aware of their addresses) a report containing the information required by paragraphs (2)(a)– (p) of this Rule.

(7) Where the administrator wishes to publish a notice under paragraph 49(6), the notice shall be advertised in such manner as the administrator thinks fit.

(7A) In addition to the standard contents, the notice under paragraph (7) must state—

(a) that members can write for a copy of the statement of proposals for achieving the purpose of administration; and

(b) the address to which to write.

 

(8) This notice must be published as soon as reasonably practicable after the administrator sends his statement of proposals to the company's creditors but no later than 8 weeks (or such other period as may be agreed by the creditors or as the court may order) from the date that the company entered administration.