Part 10 — Dissolution Division 1 Cancellation of Incorporation
264 Sanction of company required in certain cases
resolution of the company,
(a) pay any class of creditors in full,
(b) make any compromise or ar rangement with any creditors or
class of creditors or any persons claiming to be creditors, or
having or alleging themselves to have any claim, present or
future, certain or contingent, ascertained or sounding only in
damages against the company, or whereby the company
may be rendered liable, and
(c) make any compromise or ar rangement in respect of calls
and liabilities to calls, debts, and liabilities capable of
resulting in debts, and all claims, present or future, certain
or contingent, ascertained or sounding only in damages,
subsisting or supposed to subsist between the company and
a contributory, or alleged contributory, or other debtor or
person apprehending liability to the company, and in respect
of all questions in any way relating to or affecting the assets
or the winding-up of the company, on such terms as may be
agreed, and take any security for the discharge of any such
call, debt, liability or claim, and give a complete discharge
in respect thereof.
(2) Subject to section 274, a compromise or arrangement under
subsection (1)(b) and affecting all the creditors or a class of
creditors is binding on all the creditors or the class of creditors if
acceded to by 75% in number and value of all the creditors or the
class of creditors.
RSA 1980 cC-20 s264