Advertisement of petition: companies must notify creditors of proposed capital reduction and inspection and claims procedure. Notice requirements govern advertisement of a petition with a company's list of creditors when a capital reduction is proposed. The company must advertise ... Summary
Advertisement of petition: companies must notify creditors of proposed capital reduction and inspection and claims procedure.
Notice requirements govern advertisement of a petition with a company's list of creditors when a capital reduction is proposed. The company must advertise the petition and list within a short period after filing unless the Judge allows otherwise, in the manner the Judge directs. The notice must state the amount of the proposed reduction of capital, indicate where the creditor list may be inspected, and fix a deadline for unlisted creditors to submit their names, addresses, claim particulars, and advocates' details to the company's advocate, using the prescribed form.
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