Section 273: Termination by Court

273. Termination by Court (1) The Court may terminate a deed of company arrangement on the application of— (a) the company; (b) a creditor; (c) the deed administrator; or (d) any other interested person. (2) The Court may terminate a deed of company arrangement where it is satisfied that— (a) an information breach has occurred; (b) there has been a material contravention of the deed by a person bound by it; (c) effect cannot be given to the deed without injustice or undue delay; (d) the deed or a provision of it is, an act done under the deed was, or an act proposed to be done under the deed would be— (i) oppressive or unfairly prejudicial to, or unfairly discriminatory against, one or more of the creditors; or (ii) contrary to the interests of the company as a whole; (e) the deed should be terminated for some other reason. (3) The Court shall not terminate the deed without first taking into account the rights of third parties. [Issue 3] I14 – 152 Revised Laws of Mauritius (4) In this section— “information breach” means— (a) the giving of false or misleading information about the company’s business, property, affairs, or financial circumstances— (i) to the administrator or a creditor; or (ii) in a report or statement under section 237 (4) that accompanies a notice of meeting at which a resolution that the company execute a deed of company arrangement was passed; or (b) an omission from the report or statement referred to paragraph (a) (ii), where the information or the omission, as the case may be, can reasonably have been expected to be material to the creditors in deciding whether to vote in favour of the resolution that the company execute the deed of company arrangement.