279. Corporate representation.

If a corporation is a creditor in a bankruptcy or an individual voluntary arrangement¹, it may by resolution of its directors or other governing body authorise a person or persons to act as its representative or representatives in relation to any decision procedure² of the bankrupt or debtor's creditors³.

Where the corporation authorises only one person, that person is entitled to exercise the same powers on behalf of the corporation as the corporation could exercise if it were an individual creditor⁴. Where the corporation authorises more than one person, any one of them is entitled to exercise the same powers