Approval by the creditors’ committee
This section has no associated Explanatory Memorandum
145.—(1) Where there is a creditors’ committee, the administrator shall summon a meeting of that committee to approve the distribution plan.
(2) The administrator shall send the proposed distribution plan to each member of the creditors’ committee when sending out notice of the meeting.
(3) The creditors’ committee may approve the distribution plan with or without modification.