Section 253: Interpretation of Part XVII

253. Interpretation of Part XVII In this Part— “compromise” means a compromise between a company and its creditors, including a compromise— (a) cancelling all or part of a debt of the company; or (b) varying the rights of its creditors or the terms of a debt; or (c) relating to an alteration of a company’s constitution that affects the likelihood of the company being able to pay a debt; “creditor” includes— (a) a person who, in a liquidation, is entitled to claim in accordance with section 282 of the Companies Act 1984 that a debt is owing to that person by the company; and (b) a secured creditor; “proponent” means a person referred to in section 254 who proposes a compromise in accordance with this Part. [Issue 1] C35 – 152 Revised Laws of Mauritius