Voting threshold reduction changes committee approval requirements; written consent now required from interim and proposed resolution professionals. Amendment to section 22 reduces the voting threshold in sub section (2) from seventy-five to sixty-six and inserts written consent requirements in sub ... Summary
Voting threshold reduction changes committee approval requirements; written consent now required from interim and proposed resolution professionals.
Amendment to section 22 reduces the voting threshold in sub section (2) from seventy-five to sixty-six and inserts written consent requirements in sub section (3): clause (a) makes actions subject to a written consent from the interim resolution professional in the specified form, and clause (b) requires appointment of the proposed resolution professional to be accompanied by a written consent from that proposed resolution professional in the specified form.
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