Article 51 - Company Arrangements
Administrator may make a proposal to the Company's creditors for a composition in satisfaction of its debts (an " Arrangement").
Administrator must send a copy of a statement of his proposals to the CRO and (so far as he is aware of their addresses) to all members and all creditors of the Company.
(3) Such statement must contain the following information:
(A) details relating to his appointment as
Administrator, the purposes of the administration, and any subsequent variation of these purposes;
(B) the names of the directors and secretary of the
(C) an account of the circumstances giving rise to the
(D) if a statement of affairs has been submitted, a copy or summary of it, with the
Administrator's comments, if any;
(E) if no statement of affairs has been submitted, details of the financial position of the
Company at the latest practicable date (which must, unless the QFC Court otherwise orders, be a date not earlier than that of the start of the Administration);
(F) the manner in which the affairs and business of the
(1) have, since the date of the
Administrator's appointment, been managed and financed; and
(2) will, if the
Administrator's proposals are approved, continue to be managed and financed; and
(G) such other information (if any) as the
Administrator thinks necessary to enable creditors to decide whether or not to vote for the adoption of the proposed arrangement.