At the first creditors’ meeting, a bankruptcy officer shall chair the proceedings and forms the office with two creditors that he appoints.
The office shall decide on the admission of persons who wish to participate in the discussions without being specifically invited.
The meeting is quorate if at least one quarter of the known creditors are present or represented. If four or fewer creditors are present or represented, a valid hearing may be held provided that they account for at least half of the known creditors.
The meeting passes resolutions by an absolute majority of the creditors voting. In the event of a tie, the chair has the casting vote. If the calculation of votes is disputed, the office shall decide.1
Footnotes
Amended by No I of the FA of 16 Dec. 1994, in force since 1 Jan. 1997 (AS 1995 1227;BBl 1991 III 1). ↩
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