Section 268: Enforcement of charge or recovery of property

268. Enforcement of charge or recovery of property (1) The Court may, at any time after creditors have resolved at a watershed meeting that a deed of company arrangement be executed, order that— (a) a secured creditor may realise or otherwise enforce his charge; or (b) the owner or lessor of property that is used or occupied by the company or is in the company’s possession may take possession of the property or otherwise recover it or exercise rights in relation to it. (2) The Court in making an order under subsection (1) may make the order subject to such terms as the Court may determine. (3) The Court may make an order under subsection (1) where— (a) it is satisfied that achieving the purposes of the deed would not be materially adversely affected if the order were made; and (b) having regard to the terms of the deed and the order, and any other relevant matters, it is satisfied that the interests of the person affected by the order, that is the creditor, property owner, or lessor, will be seriously prejudiced to an extent that outweighs prejudice to other creditors if an order is not made. [Issue 7] I14 – 150 Revised Laws of Mauritius (4) An application for an order under this section may be made where the deed— (a) has not yet been executed, by the administrator; or (b) has been executed, by the deed administrator.