Creditor supermajority resolution directs tribunal to order winding-up or appoint an administrator to prepare a revival scheme. Following the interim administrator's report, if creditors representing a supermajority in value present and voting resolve that revival is not possible the Tribunal shall record that view and order winding-up proceedings; if they resolve revival is possible the Tribunal shall appoint a company administrator to prepare a scheme of revival and rehabilitation and may appoint the interim administrator as company administrator.
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.
Creditor supermajority resolution directs tribunal to order winding-up or appoint an administrator to prepare a revival scheme.
Following the interim administrator's report, if creditors representing a supermajority in value present and voting resolve that revival is not possible the Tribunal shall record that view and order winding-up proceedings; if they resolve revival is possible the Tribunal shall appoint a company administrator to prepare a scheme of revival and rehabilitation and may appoint the interim administrator as company administrator.
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