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Corporate Insolvency Question
amapola
Posts: 3 Newbie
Hi all, I hope someone could help out with this tough question.
Q: Can a company under receivership pass a general resolution to appoint a corporate representative?
Background:
There is a company (A) which has recently been put into receivership by a debenture holder. A receiver and a manager has already been appointed. This company has got a subsidiaries(B) to which it has some shares in. Now that the parent company is in receivership, how can it pass general resolutions to appoint corporate representative ? This is important because only a corporate representative can attend shareholder meetings of the subsidiary company. Any caselaw perhaps that comes to mind ?
(A, now in receivership) ---> (B)
Q: Can a company under receivership pass a general resolution to appoint a corporate representative?
Background:
There is a company (A) which has recently been put into receivership by a debenture holder. A receiver and a manager has already been appointed. This company has got a subsidiaries(B) to which it has some shares in. Now that the parent company is in receivership, how can it pass general resolutions to appoint corporate representative ? This is important because only a corporate representative can attend shareholder meetings of the subsidiary company. Any caselaw perhaps that comes to mind ?
(A, now in receivership) ---> (B)
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:pB&SC No. 298
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