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Admission and rejection of proofs of debt

Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020

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—(1) The chairperson of a meeting of creditors has the power to admit or reject a proof of debt (or any part of the proof) for the purpose of voting at the meeting, but the chairperson’s decision is subject to appeal to the Court.(2) An appeal against the chairperson’s decision under paragraph (1) must be made within 14 days after the admission or rejection of the proof of debt (or any part of the proof).(3) If the chairperson is in doubt whether a creditor’s proof of debt (or any part of the proof) should be admitted or rejected, the chairperson must mark the proof as objected to and allow the creditor to vote, subject to the vote (or any part of the vote) being declared invalid if the objection to the proof is sustained.(4) If the chairperson’s decision is reversed or varied on an appeal to the Court under this regulation, or a creditor’s vote (or any part of the vote) is declared invalid, the Court may order that another meeting be summoned or make any other order that the Court thinks just.(5) The chairperson is not personally liable for costs incurred by any person in respect of an appeal to the Court under this regulation.

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