211. Information as to compromise with creditors, members and holders of units of shares of company Flashcards
1
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- Information as to compromise with creditors, members and holders of units of shares of company
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General overview
[211.01] Section 211 deals with the directors’ obligations for full disclosure of all material information at the creditors’ or members’ meeting where the proposal to compromise the creditors’ rights (i.e. take a “hair cut”) or rearrange the members’ rights are discussed and voted on.
