Applications for meetings under company compromise rules require prescribed forms, disclosures, class identification and takeover valuation safeguards. Rule 3 requires an application for an order of a meeting in the prescribed form with notice of admission, affidavit, the scheme containing section 230(2) disclosures, and fee; allows joint applications where multiple companies are involved; mandates service on the company or liquidator if the company is not the applicant at least fourteen days before hearing; requires disclosure of the basis for classifying members or creditors; and, for member-initiated takeover offers where members hold not less than three-fourths of voting equity, requires a registered valuer's report and deposit of at least one-half of the offer consideration in a separate bank account.
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.
Applications for meetings under company compromise rules require prescribed forms, disclosures, class identification and takeover valuation safeguards.
Rule 3 requires an application for an order of a meeting in the prescribed form with notice of admission, affidavit, the scheme containing section 230(2) disclosures, and fee; allows joint applications where multiple companies are involved; mandates service on the company or liquidator if the company is not the applicant at least fourteen days before hearing; requires disclosure of the basis for classifying members or creditors; and, for member-initiated takeover offers where members hold not less than three-fourths of voting equity, requires a registered valuer's report and deposit of at least one-half of the offer consideration in a separate bank account.
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