212. Approval of compromise or arrangement by Court Flashcards
1
Q
- Approval of compromise or arrangement by Court
A
General overview
[212.01] Section 212 applies in the context of applying for the court’s order for the approval of a scheme that was proposed for the reconstruction of any company or companies or the amalgamation of any two or more companies whereby the whole or part of the undertaking or the property of any company is to be transferred to another company (“transferee company”), the court is empowered to make the orders relating to those matters referred to in subsection (1)(a)–(f). The difference between s 212 and s 215 is that s 212 involves the transfer of the whole or part of the assets and liabilities of the company to the transferee company whilst s 215 deals with the compulsory purchase of all the shares of the company.
