Committee meeting rules require resolution professionals to convene timely meetings and act on requests by voting minority. The resolution professional must convene committee meetings within thirty days of the last meeting, subject to extension so long as at least one meeting occurs each quarter, and must call meetings on requests by members meeting the voting rights threshold; the RP may place proposals from such members and must convene or consider matters under these provisions until a resolution plan is approved or liquidation ordered, limited to matters not affecting the plan. The committee may direct the RP to invite the competent authority for real estate projects and invite interim finance providers to attend as non voting participants or observers.
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.
Committee meeting rules require resolution professionals to convene timely meetings and act on requests by voting minority.
The resolution professional must convene committee meetings within thirty days of the last meeting, subject to extension so long as at least one meeting occurs each quarter, and must call meetings on requests by members meeting the voting rights threshold; the RP may place proposals from such members and must convene or consider matters under these provisions until a resolution plan is approved or liquidation ordered, limited to matters not affecting the plan. The committee may direct the RP to invite the competent authority for real estate projects and invite interim finance providers to attend as non voting participants or observers.
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