Commentary

44 Decisions of creditors and members meeting

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

44 Decisions of creditors and members meeting

| Commentary

44 Decisions of creditors and members meeting

The purpose of the decision procedure and meeting is to decide whether to approve the proposed voluntary arrangement with or without modifications1. The modifications may include one conferring the functions proposed to be conferred on the nominee on another person qualified to act as an insolvency practitioner in relation to the company. However, they shall not include any modification by virtue of which the proposal ceases to be a proposal2. If the voluntary arrangement is approved with the appointment of a different supervisor, evidence of his qualifications to act

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