Arrangements and compromise under CAMA 2020: sections 710 to 717
Chapter 27 covers schemes of arrangement and compromise between a company and its creditors or members.
Chapter 27 of Part B has 8 sections. Every section is listed below with its title.
Guides in this chapter
Key rules in this chapter
- Three-quarters in value must approve a scheme or compromise before the court sanctions it (sections 711 and 715).
- A bidder with 90% approval within four months can acquire dissenters’ shares (section 712).
- Filing the required affidavit gives a company a six-month moratorium (section 717).
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Source: the Companies and Allied Matters Act 2020 as published in the Official Gazette.