Section 275: Creditors’ meeting to consider proposed variation or termination of

275. Creditors’ meeting to consider proposed variation or termination of deed (1) The deed administrator— (a) may at any time convene a meeting of the company’s creditors to consider a variation to, or the termination of, the deed; and (b) shall convene a meeting if requested in writing by creditors whose claims against the company are not less than 10 per cent of the value of the total value of all creditors’ claims. (2) The deed administrator shall convene the meeting by— (a) giving written notice to as many of the company’s creditors as is reasonably practicable; and (b) publishing a notice of the meeting in a daily newspaper. (3) The administrator shall take the steps set out in subsection (2) not less than 7 days before the meeting. (4) The notice given to the creditors shall set out any resolution for varying or terminating the deed that is to be considered by the meeting. (5) The deed administrator shall preside at the meeting. (6) The meeting may be adjourned from time to time. I14 – 153 [Issue 3] Insolvency Act Section H – Administrator’s liability