Tribunal power to supervise sanctioned compromises allows directions, modifications, or winding-up when implementation fails. A tribunal sanctioning a company compromise or arrangement may supervise its implementation, give directions, and modify terms at the time of sanction or later. If the tribunal finds the scheme cannot be implemented satisfactorily and the company cannot pay its debts under the scheme, it may order winding up, with that order treated under the general winding-up regime. These supervisory and enforcement powers apply, as far as possible, to arrangements sanctioned prior to the Act's commencement.
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.
Tribunal power to supervise sanctioned compromises allows directions, modifications, or winding-up when implementation fails.
A tribunal sanctioning a company compromise or arrangement may supervise its implementation, give directions, and modify terms at the time of sanction or later. If the tribunal finds the scheme cannot be implemented satisfactorily and the company cannot pay its debts under the scheme, it may order winding up, with that order treated under the general winding-up regime. These supervisory and enforcement powers apply, as far as possible, to arrangements sanctioned prior to the Act's commencement.
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