Section 81: Meeting of creditors

81. Meeting of creditors (1) The provisional trustee shall, as soon as practicable, call a meeting of creditors by posting to every known creditor at the creditor’s last known address— (a) a notice of the date, time and place of the meeting; (b) a summary of the insolvent’s assets and liabilities; (c) a copy of the proposal and particulars of any security or guarantee; (d) a form of proof of debt; and (e) a postal vote in the prescribed form. (2) A creditor who has proved a claim in the prescribed manner may vote on the proposal by sending a postal vote that reaches the provisional trustee before or at the meeting. (3) Where the provisional trustee receives a postal vote before or at the meeting, the postal vote has effect as if the creditor had been present and voted at the meeting. (4) The provisional trustee shall chair the meeting of creditors, unless the creditors elect their own chairperson. (5) The creditors may— (a) examine the insolvent; (b) accept the proposal with or without amendment by passing a resolution that sets out the proposal in its final form; and (c) confirm the provisional trustee as trustee, or appoint another person who is willing to act as trustee, in which case that person becomes the trustee. (6) The resolution accepting the proposal shall be decided by a majority in number and three fourths in value of the creditors who— (a) vote; and (b) are personally present or are represented at the meeting by proxy. (7) Where the insolvent consents, the creditors may include in the proposal terms for the supervision of the insolvent’s affairs. [Issue 3] I14 – 50 Revised Laws of Mauritius