| Commentary

217.2 Voting by secured creditors

| Commentary

217.2 Voting by secured creditors

A secured creditor1 is entitled to vote only in respect of the balance (if any) of his debt after deducting the value of his security as estimated by him2. If a secured creditor omits to disclose his security in his proof of debt, he must surrender his security unless the court on application by him is satisfied that the omission was inadvertent or the result of honest mistake3. The liquidator may at any time give notice to a secured creditor that he proposes at the expiration of 28 days from

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