Commentary

49.3 Rule 15.31: Calculation of creditors' voting rights

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

49.3 Rule 15.31: Calculation of creditors' voting rights

| Commentary

49.3 Rule 15.31: Calculation of creditors' voting rights

Rule 15.311 contains rules which appear to be the same as the previous law, stated in a slightly different way. Thus the votes are calculated according to the amount of the debt and a creditor may vote in respect of a debt for an unliquidated amount or any debt whose value is not ascertained but for the purposes of voting; his debt is valued at one pound unless the chairman agrees to put a higher value on it2. There are also provisions about the value to be placed on a secured debt

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