Companies Act, 1973 (Act No. 61 of 1973)Chapter XIV: Winding-up of CompaniesProvisions as to Meetings in Winding-up413. Meetings to ascertain wishes of creditors and others |
Where by this Act the Court is authorised, in relation to a winding-up, to have regard to the wishes of creditors, members or contributories-
| a) | the value of the respective creditors' claims and the voting rights of the various members or contributories of the company in terms of its memorandum or articles shall also be taken into consideration; and |
| b) | the Court may, if it thinks fit, for the purpose of ascertaining the wishes of such creditors, members or contributories direct meetings of the creditors, members or contributories to be called, held and conducted in such manner as it directs, and may appoint a person to act as chairman of any such meeting and to report the result thereof to the Court. |