Article 118 - Resolutions and minutes

(1) Subject to Article 118(2), at a creditors' meeting in respect of a Company in administration or Liquidation, a resolution is passed when a majority (in value) of those present and voting, in person or by proxy, have voted in favour of it.
(2) Any resolution is invalid if those voting against it include more than half in value of the creditors to whom notice of the meeting was sent and who are not, to the best of the chairman's belief, Connected Persons.