Marlor Walls Business Rescue and Recovery
     
The Interim Order | The Proposal | The Nominees | The Creditors Meetings | The Supervisor








The Nominee's Report

The nominee must submit a report to the court before the interim order ceases to have effect stating:

  • whether a meeting of the debtor's creditors should be summoned to consider the proposal
  • if, in his opinion such a meeting should be summoned, the date on which, and time and place at which, he proposes the meeting should be held

The report is filed at court and may be inspected there by any creditor.

If the court is satisfied on receiving the nominee's report that a meeting of the debtor's creditors should be summoned to consider the proposal it will direct that the period of the interim order will be extended until after the meeting. Whilst the meeting does not have to be advertised. it must take place between 14 and 28 days after the nominee submits his report. 14 days notice must be given to all known creditors, accompanied by copies of the proposal and a statement of affairs (including a list of creditors), the nominee's comments on the proposal and a proxy form.