Corporations Act 2001
SCHEDULE 2
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INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
The Court may, as to all matters relating to the external administration of a company, have regard to the wishes of the creditors or contributories as proved to it by any sufficient evidence.
90-21(2)
The Court may, if it thinks fit for the purpose of ascertaining those wishes, direct meetings of the creditors or contributories to be convened, held and conducted in such manner as the Court directs, and may appoint a person to act as chair of any such meeting and to report the result of the meeting to the Court.
90-21(3)
In the case of creditors, regard is to be had to the value of each creditor ' s debt.
90-21(4)
In the case of contributories, regard is to be had to the number of votes conferred on each contributory by this Act or the company ' s constitution.
Note: See section 600K .
PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS Division 90 - Review of the external administration of a company Subdivision B - Court powers to inquire and make orders CLAUSE 90-21 MEETINGS TO ASCERTAIN WISHES OF CREDITORS OR CONTRIBUTORIES 90-21(1)The Court may, as to all matters relating to the external administration of a company, have regard to the wishes of the creditors or contributories as proved to it by any sufficient evidence.
90-21(2)
The Court may, if it thinks fit for the purpose of ascertaining those wishes, direct meetings of the creditors or contributories to be convened, held and conducted in such manner as the Court directs, and may appoint a person to act as chair of any such meeting and to report the result of the meeting to the Court.
90-21(3)
In the case of creditors, regard is to be had to the value of each creditor ' s debt.
90-21(4)
In the case of contributories, regard is to be had to the number of votes conferred on each contributory by this Act or the company ' s constitution.
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