Court directions on creditor and member meetings govern class determination, meeting conduct, notice, voting and reporting to the Court. When a summons for a proposed compromise or arrangement is heard, the Judge must either dismiss it or give directions necessary to implement the meeting and voting process. Directions may specify the class or classes of creditors and members whose meetings are required; the time and place of meetings; appointment of Chairmen; the quorum and procedures including voting by proxy; the valuation of creditors and members or any class; notice and advertisement requirements; the timeframe for the Chairman's report to the Court; and such other matters as may be necessary.
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.
Court directions on creditor and member meetings govern class determination, meeting conduct, notice, voting and reporting to the Court.
When a summons for a proposed compromise or arrangement is heard, the Judge must either dismiss it or give directions necessary to implement the meeting and voting process. Directions may specify the class or classes of creditors and members whose meetings are required; the time and place of meetings; appointment of Chairmen; the quorum and procedures including voting by proxy; the valuation of creditors and members or any class; notice and advertisement requirements; the timeframe for the Chairman's report to the Court; and such other matters as may be necessary.
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