Part 6 — Management and Administration Division 1 Membership
170 Compromise
extending to a reorganization of the share capital of the company
by the consolidation of shares of different classes or by the division
of shares into shares of different classes or by both those methods.
(2) If a compromise or arrangement is proposed between a
company and its creditors or any class of them, or between the
company and its members or any class of them, the Court may, on
the application of the company or of any creditor or member of the
company, order a meeting of the creditors or class of creditors, or
of the members of the company or class of members, as the case
may be, to be summoned in a manner the Court directs.
(3) If a majority in number representing 75% in value of the
creditors or class of creditors, or members or class of members, as
the case may be, present and voting either in person or by proxy at
the meeting, agree to any compromise or arrangement, the
compromise or arrangement, if sanctioned by the Court, is binding
on all the creditors or the class of creditors, or on the members or
class of members, as the case may be, and also on the company.
(4) When an order is made under this section, a copy of the order
shall be filed with the Registrar within 15 days from the date of the
order or within a further time that the Court may allow, and the
compromise or arrangement does not take effect until a copy has
been so filed.
(5), (6) Repealed 2020 c25 s2(77).
RSA 2000 cC-21 s170;2009 c53 s39;2020 c25 s2(77)