Liquidator's power to require surrender of security when a secured creditor votes, subject to court-approved valuation correction. Liquidator may require a secured creditor who voted based on his valuation to give up the security for creditors' benefit on payment of that valuation; ... Summary
Liquidator's power to require surrender of security when a secured creditor votes, subject to court-approved valuation correction.
Liquidator may require a secured creditor who voted based on his valuation to give up the security for creditors' benefit on payment of that valuation; the liquidator may apply to the Court to compel surrender, and the Court may allow correction of the valuation before surrender upon terms as to costs.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.