Schedule 16, paragraph 108(3)

But where the administrator has made a statement under paragraph 52(1)(b) “consent” means— consent of each secured creditor of the company, or if the administrator thinks that a distribution may be made to preferential creditors, consent of— each secured creditor of the company, and preferential creditors whose debts amount to more than 50% of the total preferential debts of the company, disregarding debts of any creditor who does not respond to an invitation to give or withhold consent.

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Source: legislation.gov.uk · retrieved 2026-09-04