SCHEDULES
F1SCHEDULE B1 ADMINISTRATION
PROCESS OF ADMINISTRATION
Further creditors’ meetings
56
(1)
The administrator of a company shall summon a creditors’ meeting if—
(a)
it is requested in the prescribed manner by creditors of the company whose debts amount to at least 10% of the total debts of the company, or
(b)
he is directed by the court to summon a creditors’ meeting.
(2)
An administrator commits an offence if he fails without reasonable excuse to summon a creditors’ meeting as required by this paragraph.