Authorised representative voting rights must follow prior instructions and abstain when a creditor gives no directions. The authorised representative may participate and vote in committee of creditors meetings on behalf of a financial creditor only in accordance with prior voting instructions obtained by physical or specified electronic means; must circulate agenda and minutes to that creditor; must act in accordance with and not against the creditor's instructions; must cast separate votes for each creditor represented in line with each creditor's instructions and abstain where no prior instructions are given; and must file received instructions with the committee to ensure correct recording by the interim or resolution professional.
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.
Authorised representative voting rights must follow prior instructions and abstain when a creditor gives no directions.
The authorised representative may participate and vote in committee of creditors meetings on behalf of a financial creditor only in accordance with prior voting instructions obtained by physical or specified electronic means; must circulate agenda and minutes to that creditor; must act in accordance with and not against the creditor's instructions; must cast separate votes for each creditor represented in line with each creditor's instructions and abstain where no prior instructions are given; and must file received instructions with the committee to ensure correct recording by the interim or resolution professional.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.