Supreme Court ordered meeting of creditors
339 Supreme Court ordered meeting of creditors
In this section —
appropriate person, in relation to an application for an order, means —
the co‑operative; or
a member of the co‑operative; or
one of the creditors concerned; or
in the case of a co‑operative being wound‑up, the liquidator.
If a compromise or arrangement is proposed between a co‑operative and any of its creditors, the Supreme Court may on application by an appropriate person order a meeting or meetings of the creditors concerned.
The meeting must be convened in the way and be held in the place or places, in this State or elsewhere, that the Supreme Court directs.
In considering whether to make an order for a meeting to be held in another jurisdiction, the Supreme Court may have regard to where creditors concerned reside.
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