Voting and passing resolutions at the creditors meetings

Resolutions at meetings of creditors are passed firstly on the voices however, if a poll is demanded, a resolution will pass if;

• more than 50% in number and 50% in value of creditors attending and voting at the meeting vote in favour of the resolution

It is noted that in the case of a deadlock, the chairman has a casting vote and will usually exercise the casting vote in accordance with his recommended course of action as outlined in the report to creditors.