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Opting Out Guide

Jonathan Taylor - May 19th, 2017


OPTING OUT OF RECEIVING DOCUMENTS

 

The consequences of opting-out

As previously advised, most future documents will not be sent to creditors by post.  Nevertheless, the Liquidator is required to inform creditors of their rights to opt out of receiving documents.

Creditors have the right to elect to opt out of receiving further documents about the Liquidation unless:

  • the Insolvency Act 1986 requires a document to be delivered to all creditors without expressly excluding opted-out creditors;
  • it is a notice relating to a change in the office-holder or the office-holder’s contact details; or
  • it is a notice of a dividend or proposed dividend or a notice which the court orders to be sent to all creditors or all creditors of a particular category to which the creditor belongs.

Opting-out will not affect the creditor’s entitlement to receive dividends should any be paid to creditors.

Unless the Insolvency (England & Wales) Rules 2016 provide to the contrary, opting-out will not affect any right the creditor may have to vote in a decision procedure or a participate in a deemed consent procedure in the proceedings although the creditor will not receive notice of it.

A creditor who opts out will be treated as having opted out in respect of any consecutive insolvency proceedings of a different kind in respect of the same company.

How to opt out

A creditor may at any time elect to be an opted-out creditor.

The creditor’s election to opt out must be by a notice in writing authenticated and dated by the creditor.

The creditor must deliver the notice to the Liquidator (details below).

How to opt back in

The creditor may at any time revoke the election to opt out by a further notice in writing, authenticated and dated by the creditor and delivered to the Liquidator (details below).

Contact details

 

The Liquidator’s contact details are as follows:

Names of Liquidator(s):

 

Jonathan Mark Taylor

or

Timothy Hargreaves

Address of Liquidator(s): Suite 101 & 102, Empire Way Business Park, Liverpool Road, Burnley, BB12 6HH
Email Address info@thfr.co.uk
Telephone Number 01282 332222 or 01772 641146