Proceedings and Procedures - Filing, audit and inspection of the liquidator’s accountLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Proceedings and Procedures - Filing, audit and inspection of the liquidator’s accountLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Rule 186 - Procedure when secured creditor votes without surrendering security
Limited Liability Partnership (Winding up and Dissolution) Rules, 2010 Chapter VI Proceedings and Procedures - Meetings of creditors or partners in a winding up by Tribunal and of creditors in a voluntary winding up
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Secured creditor valuation may trigger surrender of security upon payment of the creditor's estimated value, subject to tribunal oversight. If a secured creditor votes based on his valuation, the liquidator may within twenty-eight days require surrender of the security for creditors' benefit ... Summary
Secured creditor valuation may trigger surrender of security upon payment of the creditor's estimated value, subject to tribunal oversight.
If a secured creditor votes based on his valuation, the liquidator may within twenty-eight days require surrender of the security for creditors' benefit on payment of the value estimated by that creditor, and may apply to the Tribunal to compel surrender; the Tribunal may allow correction of the valuation for good cause and impose terms as to costs.
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