| Commentary

62 Variation upon failure of arrangement

| Commentary

62 Variation upon failure of arrangement

Many arrangements—especially those where the company is required to do future acts, such as to pay regular sums of money to the supervisor for the benefit of the arrangement over a period of time—fail by reason of the company’s inability to perform the future act, or by reason of some other default under the terms of the arrangement. In such cases, it may be desirable to vary the arrangement.

There is no power or provision in the insolvency legislation permitting a further meeting to be called for the purpose of varying the arrangement, and even

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