Secured creditor voting effect: voting for whole debt deems surrender of security unless inadvertence shown. If a secured creditor votes in respect of his whole debt he shall be deemed to have surrendered his security, unless on application the Court is satisfied that the omission to value the security was due to inadvertence; the Court may thereby prevent the deemed surrender where inadvertence is shown.
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.
Secured creditor voting effect: voting for whole debt deems surrender of security unless inadvertence shown.
If a secured creditor votes in respect of his whole debt he shall be deemed to have surrendered his security, unless on application the Court is satisfied that the omission to value the security was due to inadvertence; the Court may thereby prevent the deemed surrender where inadvertence is shown.
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