Sanctioning Schemes of Arrangement : The Need for Granting the Court a Curative Power

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

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Author(s)

  • Charles Zhen Qu

Related Research Unit(s)

Detail(s)

Original languageEnglish
Pages (from-to)13-29
Journal / PublicationJournal of Business Law
Issue number1
Publication statusPublished - 1 Jan 2016

Abstract

This article debates the desirability of granting the courts a statutory curative power to cure errors in classing claimholders for the purposes of scheme of arrangement meetings. At common law, the court does not have jurisdiction to sanction a scheme if the meeting(s) held was/were incorrectly classed. This article will reveal that the above-mentioned rule is doctrinally problematic and serves little useful purpose, and will argue that the best way to neutralise that rule is to confer a curative power on the court.

Research Area(s)

  • Classification, Creditors, Jurisdiction, Rectification, Schemes of arrangement