3: DECISION OF CREDITORS AND OF THE COMPANY

43 Overview

In order that a CVA may be approved by creditors’, there must be a majority in excess of three-quarters in value of the creditors voting on the decision1.

For a CVA to be approved at a meeting of the company there must be a majority of more than one half in value of the members present in person or by proxy and voting on the resolution2.

The nominee is usually the chairman of the meeting3. He has overall control of decisions to be made

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