Section 232: Administrator to call creditors’ meetings

232. Administrator to call creditors’ meetings (1) An administrator shall call— (a) the first creditors’ meeting, for the appointment, if any, of a committee of creditors; (b) a watershed meeting; and (c) such other creditors’ meetings as may be required by the creditors’ committee or the administrator. (2) Subject to section 238, clauses 4, 6 to 8 and 10 to 12 of the First Schedule apply to creditors’ meetings called under this Sub-part as if references to “the liquidator” were references to “the administrator”. (3) At any meeting of creditors or class of creditors held under this Subpart, a resolution is adopted if a majority in number representing 75 per cent in value of the creditors or class of creditors voting in person, or by proxy vote or by postal vote, vote in favour of the resolution. (4) The administrator or the administrator’s nominee shall chair a creditors’ meeting, and has a casting vote. (5) The administrators of related companies may call meetings of creditors of their respective companies to be held at the same time and place, but only with the consent of all the creditors. (6) In the case of a joint meeting, a creditor of a company in administration may vote only on a resolution that relates to the administration of the company of which that person is a creditor. [Issue 3] I14 – 134 Revised Laws of Mauritius (7) For the purposes of subsection (5), a creditor is taken to have consented to the joint meeting where— (a) a written notice that complies with subsection (8) accompanies the notice of meeting; and (b) the creditor has not objected to the joint meeting within the time, and in the manner, specified in the written notice. (8) The notice shall— (a) be in writing; and (b) state— (i) the administrator’s postal, email and street addresses; (ii) the names of the related companies in respect of which the joint meeting is to be held; (iii) that the creditor to whom it is sent may object to the joint meeting by sending a written objection to the administrator at the administrator’s postal, email or street address for receipt by the administrator within the time specified in the notice; and (iv) that, unless the creditor objects in accordance with the notice, the creditor will be taken to have agreed to the joint meeting. (9) For the purposes of subsection (8) (b) (iii) the administrator may, in his discretion, determine the time for receipt of an objection, but must specify a time that is reasonably practicable in the circumstances.