| Commentary

46 Voting in a creditors' decision

| Commentary

46 Voting in a creditors' decision

Every creditor secured or unsecured who has notice of the decision procedure is entitled to vote in respect of that creditor's debt1. A resolution to approve the proposal or a modification is passed when a majority of three-quarters or more (in value) have voted in favour of it2.

Votes are calculated according to the amount of the creditor’s debt as at the date of the meeting, or where the company is being wound up, or is in administration, the date of its going into liquidation or, as the case may be, entering administration3.

The Insolvency (England

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial