Majority in value determines creditor resolutions, with creditor valuation rules for tribunal winding-up first meeting distinction.

A resolution at a creditors' meeting is deemed passed when a majority in value of creditors present personally or by proxy and voting vote in favour. In a winding-up by the Tribunal, the value of a creditor for the first meeting is the lesser of the value shown in the LLP's books or the amount in the creditor's proof; for any other meeting, the value is the amount for which the creditor has proved the debt or claim.

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