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 ... Summary
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.
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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