Meeting of creditors: court-directed convening with proxy voting and chairman appointment; approval requires subsequent court sanction. Court-directed convening of class meetings to consider a proposed compromise or arrangement requires a prescribed notice identifying the class, place, ... Summary
Meeting of creditors: court-directed convening with proxy voting and chairman appointment; approval requires subsequent court sanction.
Court-directed convening of class meetings to consider a proposed compromise or arrangement requires a prescribed notice identifying the class, place, date and time; availability of the compromise and disclosure statement at the registered office; entitlement to attend and vote in person or by proxy upon timely deposit of proxy forms; court appointment of a chairman (and alternate); and that meeting approval is subject to subsequent court confirmation.
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