Secured creditor voting rights limited to net claim after declared security value is deducted from the debt. Rule 60 requires a secured creditor who retains security to state in the proof the security particulars, date given and value as assessed by a registered ... Summary
Secured creditor voting rights limited to net claim after declared security value is deducted from the debt.
Rule 60 requires a secured creditor who retains security to state in the proof the security particulars, date given and value as assessed by a registered valuer, and permits voting only for the balance due after deducting the assessed value of the security.
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