Reduction of capital: Tribunal may confirm subject to creditor consent or security and require name change or disclosure. The Tribunal may confirm a company's reduction of share capital only if every creditor entitled to object has consented or had his debt or claim discharged, determined, or secured; it may impose terms on confirmation. For special reasons the Tribunal can require the company to add the words 'and reduced' to its name for a specified period, and may require publication of reasons or other information the Tribunal deems expedient to inform the public.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reduction of capital: Tribunal may confirm subject to creditor consent or security and require name change or disclosure.
The Tribunal may confirm a company's reduction of share capital only if every creditor entitled to object has consented or had his debt or claim discharged, determined, or secured; it may impose terms on confirmation. For special reasons the Tribunal can require the company to add the words "and reduced" to its name for a specified period, and may require publication of reasons or other information the Tribunal deems expedient to inform the public.
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