Section 901C | Court order for holding of meeting ^F1

(1)The court may, on an application under this subsection, order a meeting of the creditors or class of creditors, or of the members of the company or class of members (as the case may be), to be summoned in such manner as the court directs.

(2)An application under subsection (1) may be made by—

(a)the company,

(b)any creditor or member of the company,

(c)if the company is being wound up, the liquidator, or

(d)if the company is in administration, the administrator.

(3)Every creditor or member of the company whose rights are affected by the compromise or arrangement must be permitted to participate in a meeting ordered to be summoned under subsection (1).

(4)But subsection (3) does not apply in relation to a class of creditors or members of the company if, on an application under this subsection, the court is satisfied that none of the members of that class has a genuine economic interest in the company.

(5)An application under subsection (4) is to be made by the person who made the application under subsection (1) in respect of the compromise or arrangement.

(6)Section 323 (representation of corporations at meetings) applies to a meeting of creditors under this section as to a meeting of the company (references to a member of the company being read as references to a creditor).

(7)This section is subject to section 901H (moratorium debts, etc).