60 Powers of the court on an application

Where the court is satisfied that either of the two grounds (ie unfair prejudice or material irregularity)1 is made out, it may do one or both of the following2:

  1. 60.1

        revoke or suspend any approval given by the decision of the debtor’s creditors;

  2. 60.2

        direct any person to seek a decision from the debtor’s creditors (using a decision procedure) as to whether they approve any revised proposal the debtor may make or, in a case of material irregularity, to reconsider the original proposal.

Where the court gives a direction for a further decision

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