| Commentary

324 Approval of proposal

| Commentary

324 Approval of proposal

Meetings of the members and a decision procedure of creditors then take place to consider the proposal, which may be approved with or without modifications1. The rights of secured and preferential creditors may not be interfered with without their express consent2. The meetings take place under the Insolvency (England and Wales) Rules 20163, and approval of the proposal requires a majority in excess of three-quarters in value of the creditors taking part in the decision procedure4, and a simple majority of the votes cast by members of the partnership calculated by reference to their rights in

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