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.
Liquidation Experts, Liquidation and Bankruptcy Specialist, Liquidators Registered with ASIC, Bankruptcy Trustees Registered with ITSA, Insolvency and Liquidation Advice, All forms of corporate and personal insolvency, Liquidation throughout Australia, Part IX Debt Agreements, Part X Personal Insolvency Agreement, Bankruptcy Expert.