APPOINTMENT OF LIQUIDATORS AND TRUSTEES
(Amended February 2014)
This chapter gives general advice and guidance relating to the appointment of liquidators and trustees, including the various methods used for effecting their appointment and the procedures to follow once an appointment is made.
The Insolvency (Amendment) Rules 2010 came into force on 6 April 2010 and have had some effect on liquidator and trustee appointments in cases where the petition was presented on or after 6 April 2010. The relevant paragraphs have been updated to reflect the changes and information is provided to show when they apply.
This chapter is divided into 7 parts as follows:
Part 1 - Insolvency Practitioners Generally (paragraphs 17.3 - 17.20)
Part 2 - Appointment when Winding-Up Order or Bankruptcy Order made (paragraphs 17.21 -17.28)
Part 3 - Appointment Following Meetings (paragraphs 17.29 -17.38)
Part 4 - Use of proxies to effect appointment (paragraphs 17.39 -17.46)
Part 5 - Appointments by the Secretary of State (paragraphs 17.47 -17.68)
Part 6 - Vacancies in Office (paragraphs 17.69 - 17.70)
Part 7 - Handovers (paragraphs 17.71 - 17.88)
The chapter contains the following Annexes:
Annex A – Acceptable form of wording for ‘blanket’ authority
Annex B – Guidance on the use of blanket authorities
Annex C – The Insolvency Practitioner Handover form (Company)
Annex D – The Insolvency Practitioner Handover form (Bankruptcy)
Annex E – Guidelines for official receivers on IP rota appointments (added September 2012)
The following abbreviations are used in this chapter:
CAR - Case Assessment Review
EA2002 - The Enterprise Act 2002
IAR – Insolvency (Amendment) Rules 2010
IPO - The Insolvent Partnerships Order 1994
IPR05 - Insolvency Practitioner Regulations 2005
IPU - Insolvency Practitioner Unit
RTLU - Regional Trustee and Liquidators Unit
Throughout this chapter, to avoid unnecessary repetition, the term "meetings" (which normally denotes meetings of creditors and contributories in a winding up), also includes, where appropriate, a meeting of creditors in a bankruptcy.
The following paragraph is taken from part 8 which is now deleted:
17.2 Partnership cases
The guidance given in this chapter applies generally to partnership cases, but it should be noted that in such cases the same insolvency practitioner must be appointed to act in relation to all of the joint and separate estates (see also paragraph 17.68 and Chapter 53 - Partnerships).
[On to Part 1 - Insolvency Practitioners Generally]