Commentary

244 Application for the court’s sanction

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

244 Application for the court’s sanction

| Commentary

244 Application for the court’s sanction

When the prescribed resolutions approving the scheme of arrangement have been carried out by meetings of each class of members and creditors affected by the scheme, the company, or any member or creditor of the company may make an application to the court to sanction the scheme, and at the same time file at the court a copy of a report by the chairman of the meeting or of each meeting1.

Before giving its sanction to the scheme, the court, on hearing the application, will need to satisfy itself that proper meetings

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