Singapore legislation
Section 54
Section 54
Review of meeting’s decision
(1)
Any debtor, nominee or person entitled to vote at a creditors’ meeting summoned under section 50 may apply to the court for a review of the decision of the meeting on the ground that —
the voluntary arrangement approved by the meeting unfairly prejudices the interests of the debtor or any of the debtor’s creditors; or
there has been some material irregularity at or in relation to the meeting.
(2)
Upon hearing an application under subsection (1), the court may, if it thinks fit, do one or both of the following:
revoke or suspend any approval given by the meeting;
direct any person to summon a further meeting of the debtor’s creditors to consider any revised proposal the debtor may make or, in a case falling within subsection (1)(b), to reconsider the original proposal of the debtor.
(3)
No application under this section shall be made after 28 days from the date the report was made to the court under section 52.
(4)
Where at any time after giving a direction under subsection (2)(b) for the summoning of a meeting to consider a revised proposal the court is satisfied that the debtor does not intend to submit such a proposal, the court shall revoke the direction and revoke or suspend any approval given at the previous meeting.
(5)
Upon giving a direction under subsection (2)(b), the court may, if it thinks just, extend the validity of any interim order in relation to the debtor for such period as it may think fit.
(6)
Upon giving a direction or revoking or suspending an approval under this section, the court may give such supplemental directions as it may think fit and, in particular, directions with respect to —
things done since the meeting under any voluntary arrangement approved by the meeting; and
such things done since the meeting as could not have been done if an interim order had been in force in relation to the debtor when they were done.
(7)
Except in pursuance of this section, no approval given at a creditors’ meeting summoned under section 50 shall be invalidated by reason only of any irregularity at or in relation to the meeting.